Marion Wealth Management Invests $207,000 in Salesforce, Inc. (NYSE:CRM)

Marion Wealth Management purchased a new position in shares of Salesforce, Inc. (NYSE:CRMFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 686 shares of the CRM provider’s stock, valued at approximately $207,000.

A number of other large investors have also modified their holdings of the business. Capital World Investors boosted its position in Salesforce by 2.4% in the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares during the last quarter. Fisher Asset Management LLC boosted its position in Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after buying an additional 752,566 shares during the last quarter. Capital International Investors boosted its position in Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after buying an additional 5,935,973 shares during the last quarter. Northern Trust Corp boosted its position in Salesforce by 1.1% in the third quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after buying an additional 121,436 shares during the last quarter. Finally, Norges Bank purchased a new stake in Salesforce in the fourth quarter valued at approximately $2,762,331,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, Director Craig Conway sold 6,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the completion of the transaction, the director now directly owns 6,855 shares in the company, valued at approximately $1,642,732.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director G Mason Morfit bought 428,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the purchase, 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 at the SEC website. Also, Director Craig Conway sold 6,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total value of $1,437,840.00. Following the transaction, the director now directly owns 6,855 shares in the company, valued at approximately $1,642,732.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 615,470 shares of company stock worth $172,557,838. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.6 %

NYSE:CRM traded up $1.33 during trading hours on Wednesday, hitting $231.81. The company had a trading volume of 7,119,770 shares, compared to its average volume of 13,280,099. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $264.60 and a 200 day moving average of $276.60. The company has a market cap of $224.62 billion, a P/E ratio of 41.69, a P/E/G ratio of 2.02 and a beta of 1.25. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Sanford C. Bernstein upped their target price on Salesforce from $231.00 to $234.00 and gave the company an “underperform” rating in a research report on Thursday, May 30th. Mizuho dropped their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. DA Davidson decreased their price target on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. TD Cowen decreased their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a report on Thursday, May 30th. Finally, UBS Group decreased their price target on Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

Read Our Latest Analysis on Salesforce

Salesforce Company 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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