Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Salesforce, Inc. (NYSE:CRM – Get Rating) by 0.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 688,880 shares of the CRM provider’s stock after acquiring an additional 5,155 shares during the period. Salesforce accounts for approximately 1.5% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 23rd biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.07% of Salesforce worth $146,263,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vectors Research Management LLC increased its holdings in Salesforce by 128.9% in the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 58 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in Salesforce in the fourth quarter valued at $27,000. Financial Enhancement Group LLC increased its holdings in Salesforce by 589.5% in the fourth quarter. Financial Enhancement Group LLC now owns 131 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 112 shares during the period. Northwest Investment Counselors LLC acquired a new stake in Salesforce in the fourth quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Salesforce in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 77.75% of the company’s stock.
In related news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $167.52, for a total value of $385,296.00. Following the completion of the transaction, the chief executive officer now directly owns 28,761,368 shares in the company, valued at approximately $4,818,104,367.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 20,000 shares of Salesforce stock in a transaction that occurred on Thursday, April 7th. The shares were sold at an average price of $200.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the insider now owns 44,879 shares of the company’s stock, valued at $8,975,800. The disclosure for this sale can be found here. Insiders sold a total of 108,840 shares of company stock worth $20,113,549 in the last ninety days. 4.10% of the stock is currently owned by insiders.
Shares of NYSE:CRM traded up $2.67 during mid-day trading on Thursday, reaching $170.12. The company had a trading volume of 35,627 shares, compared to its average volume of 9,764,170. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $169.27 billion, a price-to-earnings ratio of 162.57, a PEG ratio of 4.57 and a beta of 1.16. The company’s 50-day moving average price is $172.00 and its 200-day moving average price is $205.29. Salesforce, Inc. has a one year low of $154.55 and a one year high of $311.75.
Salesforce (NYSE:CRM – Get Rating) last posted its quarterly earnings results on Tuesday, May 31st. The CRM provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Salesforce had a net margin of 3.59% and a return on equity of 3.92%. Salesforce’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 2.18 EPS for the current fiscal year.
Salesforce Company Profile (Get Rating)
Salesforce, Inc provides customer relationship management technology that brings companies and customers together worldwide. Its Customer 360 platform empowers its customers to work together to deliver connected experiences for their customers. The company's service offerings include 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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