Nicolet Bankshares Inc. Sells 4,569 Shares of Salesforce, Inc. (NYSE:CRM)

Nicolet Bankshares Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 34.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,751 shares of the CRM provider’s stock after selling 4,569 shares during the quarter. Nicolet Bankshares Inc.’s holdings in Salesforce were worth $1,775,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Osterweis Capital Management Inc. grew its position in Salesforce by 463.1% in the 2nd quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider’s stock worth $694,000 after purchasing an additional 2,700 shares during the period. Pointe Capital Management LLC lifted its stake in Salesforce by 370.0% in the 2nd quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after purchasing an additional 1,221 shares in the last quarter. Walkner Condon Financial Advisors LLC raised its position in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares in the last quarter. Bank of Hawaii raised its position in shares of Salesforce by 89.2% during the 2nd quarter. Bank of Hawaii now owns 5,282 shares of the CRM provider’s stock valued at $1,116,000 after buying an additional 2,490 shares in the last quarter. Finally, Trivest Advisors Ltd raised its position in shares of Salesforce by 288.6% during the 2nd quarter. Trivest Advisors Ltd now owns 952,000 shares of the CRM provider’s stock valued at $201,120,000 after buying an additional 707,000 shares in the last quarter. 77.52% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $220.94, for a total transaction of $3,314,100.00. Following the transaction, the chief executive officer now directly owns 14,876,166 shares in the company, valued at $3,286,740,116.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $220.94, for a total value of $3,314,100.00. Following the sale, the chief executive officer now directly owns 14,876,166 shares in the company, valued at approximately $3,286,740,116.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,383,178 shares of company stock worth $365,653,525. 3.70% of the stock is currently owned by insiders.

Salesforce Price Performance

Shares of CRM traded down $2.89 during trading hours on Monday, hitting $288.41. 2,129,657 shares of the stock were exchanged, compared to its average volume of 5,040,761. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock’s 50-day moving average price is $268.45 and its two-hundred day moving average price is $232.61. The company has a market cap of $279.18 billion, a price-to-earnings ratio of 110.46, a price-to-earnings-growth ratio of 1.87 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $159.65 and a 12-month high of $295.24.

Salesforce (NYSE:CRMGet Free Report) last posted its earnings results on Wednesday, November 29th. The CRM provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.06. The firm had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.71 billion. Salesforce had a return on equity of 9.19% and a net margin of 7.63%. Salesforce’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. Research analysts expect that Salesforce, Inc. will post 6.02 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. KeyCorp cut their price target on shares of Salesforce from $272.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, November 22nd. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $290.00 to $350.00 in a research report on Thursday, December 21st. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price on the stock in a research report on Monday, December 18th. JMP Securities reaffirmed a “market outperform” rating and set a $293.00 target price on shares of Salesforce in a research note on Monday, January 22nd. Finally, Mizuho boosted their price target on shares of Salesforce from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Nine analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $264.03.

Read Our Latest Analysis on CRM

About Salesforce

(Free Report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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