Doliver Advisors LP Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Doliver Advisors LP trimmed its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 8.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,823 shares of the CRM provider’s stock after selling 557 shares during the period. Doliver Advisors LP’s holdings in Salesforce were worth $1,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CRM. Capital World Investors lifted its position in shares of Salesforce by 2.4% in the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after purchasing an additional 457,463 shares during the period. Fisher Asset Management LLC raised its stake in shares of Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares in the last quarter. Capital International Investors raised its stake in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares in the last quarter. Norges Bank bought a new position in shares of Salesforce during the 4th quarter worth approximately $2,762,331,000. Finally, Parnassus Investments LLC raised its stake in shares of Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM traded down $5.22 during midday trading on Monday, hitting $239.84. The company’s stock had a trading volume of 7,540,051 shares, compared to its average volume of 6,913,846. The business’s 50 day simple moving average is $261.81 and its 200 day simple moving average is $276.63. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $232.40 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. On average, analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. UBS Group reduced their price objective on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Sanford C. Bernstein boosted their price objective on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. Barclays cut their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, DA Davidson cut their price target on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Check Out Our Latest Research Report on CRM

Insider Buying and Selling

In other news, Director G Mason Morfit acquired 428,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was purchased at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the transaction, the director now owns 3,914,309 shares in the company, valued at $912,699,429.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director G Mason Morfit purchased 428,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was acquired at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the transaction, the director now directly owns 3,914,309 shares in the company, valued at $912,699,429.53. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $306.50, for a total transaction of $1,287,300.00. Following the sale, the insider now owns 105,837 shares of the company’s stock, valued at $32,439,040.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 558,302 shares of company stock worth $154,932,104. Insiders own 3.20% of the company’s stock.

Salesforce Profile

(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 artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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