Endurance Wealth Management Inc. decreased its holdings in Salesforce, Inc. (NYSE:CRM - Get Rating) by 14.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,054 shares of the CRM provider’s stock after selling 175 shares during the quarter. Endurance Wealth Management Inc.’s holdings in Salesforce were worth $224,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Mayflower Financial Advisors LLC boosted its holdings in Salesforce by 1.2% in the fourth quarter. Mayflower Financial Advisors LLC now owns 3,794 shares of the CRM provider’s stock worth $964,000 after acquiring an additional 46 shares in the last quarter. Insight Wealth Strategies LLC boosted its holdings in Salesforce by 0.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 9,652 shares of the CRM provider’s stock worth $2,453,000 after acquiring an additional 47 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc. boosted its holdings in Salesforce by 4.1% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc. now owns 1,204 shares of the CRM provider’s stock worth $306,000 after acquiring an additional 47 shares in the last quarter. Carret Asset Management LLC boosted its holdings in Salesforce by 2.3% in the fourth quarter. Carret Asset Management LLC now owns 2,092 shares of the CRM provider’s stock worth $532,000 after acquiring an additional 48 shares in the last quarter. Finally, Bedel Financial Consulting Inc. boosted its holdings in Salesforce by 7.0% in the fourth quarter. Bedel Financial Consulting Inc. now owns 738 shares of the CRM provider’s stock worth $188,000 after acquiring an additional 48 shares in the last quarter. 77.75% of the stock is owned by institutional investors and hedge funds.
NYSE:CRM opened at $165.04 on Friday. Salesforce, Inc. has a 52 week low of $154.55 and a 52 week high of $311.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $164.21 billion, a P/E ratio of 160.23, a P/E/G ratio of 5.09 and a beta of 1.16. The stock’s fifty day moving average is $170.53 and its two hundred day moving average is $201.54.
Salesforce (NYSE:CRM – Get Rating) last posted its earnings results on Tuesday, May 31st. The CRM provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Salesforce had a return on equity of 3.92% and a net margin of 3.59%. The company had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.38 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 2.18 earnings per share for the current fiscal year.
CRM has been the subject of several research analyst reports. KeyCorp reduced their price objective on Salesforce from $281.00 to $223.00 and set an “overweight” rating for the company in a research note on Monday, April 25th. Cowen reduced their price objective on Salesforce from $285.00 to $225.00 in a research note on Monday, May 23rd. Credit Suisse Group reduced their price target on Salesforce from $375.00 to $315.00 and set an “outperform” rating for the company in a research report on Wednesday, June 1st. Citigroup raised their price target on Salesforce to $192.00 in a research report on Friday, June 3rd. Finally, Raymond James reduced their price target on Salesforce from $300.00 to $250.00 in a research report on Wednesday, June 1st. Four equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $271.28.
In related news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $170.50, for a total value of $392,150.00. Following the sale, the chief executive officer now owns 28,061,368 shares in the company, valued at approximately $4,784,463,244. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Srinivas Tallapragada sold 20,000 shares of the business’s stock in a transaction on Thursday, April 7th. The shares were sold at an average price of $200.00, for a total value of $4,000,000.00. Following the completion of the sale, the insider now owns 44,879 shares in the company, valued at approximately $8,975,800. The disclosure for this sale can be found here. Insiders sold 108,443 shares of company stock worth $19,683,362 in the last 90 days. Company insiders own 4.10% of the company’s stock.
About Salesforce: (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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