Achmea Investment Management B.V. Invests $10.80 Million in Salesforce, Inc. (NYSE:CRM)

Achmea Investment Management B.V. purchased a new position in Salesforce, Inc. (NYSE:CRMGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,842 shares of the CRM provider’s stock, valued at approximately $10,795,000.

A number of other hedge funds have also made changes to their positions in the stock. Vectors Research Management LLC raised its position in Salesforce by 128.9% during the fourth quarter. Vectors Research Management LLC now owns 103 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 58 shares in the last quarter. MCF Advisors LLC bought a new position in Salesforce during the first quarter valued at approximately $30,000. FSC Wealth Advisors LLC raised its position in Salesforce by 1,350.0% during the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock valued at $31,000 after acquiring an additional 135 shares in the last quarter. Verity Asset Management Inc. bought a new position in shares of Salesforce in the first quarter valued at approximately $35,000. Finally, Retirement Group LLC raised its position in shares of Salesforce by 65.5% in the first quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock valued at $39,000 after purchasing an additional 72 shares during the period. 77.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRM shares. Wells Fargo & Company dropped their price target on shares of Salesforce from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, August 25th. Robert W. Baird dropped their price target on shares of Salesforce from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Wedbush dropped their price target on shares of Salesforce from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Cowen dropped their price target on shares of Salesforce from $225.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Finally, Cowen dropped their price target on shares of Salesforce from $225.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.11.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $155.51, for a total value of $357,673.00. Following the completion of the transaction, the chief executive officer now directly owns 27,761,368 shares of the company’s stock, valued at $4,317,170,337.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $155.51, for a total transaction of $357,673.00. Following the completion of the sale, the chief executive officer now directly owns 27,761,368 shares of the company’s stock, valued at approximately $4,317,170,337.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 973 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $170.43, for a total value of $165,828.39. Following the sale, the insider now directly owns 93,103 shares of the company’s stock, valued at $15,867,544.29. The disclosure for this sale can be found here. Insiders sold 73,149 shares of company stock valued at $12,800,383 over the last ninety days. 3.60% of the stock is owned by insiders.

Salesforce Stock Up 3.6 %

Shares of NYSE CRM opened at $162.59 on Friday. The business has a fifty day moving average of $174.64 and a two-hundred day moving average of $181.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.06 and a current ratio of 1.06. Salesforce, Inc. has a 52-week low of $150.48 and a 52-week high of $311.75. The stock has a market cap of $162.59 billion, a PE ratio of 301.09, a PEG ratio of 4.26 and a beta of 1.12.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings results on Wednesday, August 24th. The CRM provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.17. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The business had revenue of $7.72 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same period in the previous year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities research analysts expect that Salesforce, Inc. will post 2.2 earnings per share for the current fiscal year.

Salesforce announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 24th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the CRM provider to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Salesforce Profile

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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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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