Healthcare of Ontario Pension Plan Trust Fund Purchases 12,412 Shares of Salesforce, Inc. (NYSE:CRM)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Salesforce, Inc. (NYSE:CRMGet Rating) by 393.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,566 shares of the CRM provider’s stock after acquiring an additional 12,412 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Salesforce were worth $2,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in Salesforce in the first quarter worth approximately $30,000. FSC Wealth Advisors LLC boosted its holdings in Salesforce by 1,350.0% in the first quarter. FSC Wealth Advisors LLC now owns 145 shares of the CRM provider’s stock worth $31,000 after acquiring an additional 135 shares in the last quarter. Retirement Group LLC boosted its holdings in Salesforce by 65.5% in the first quarter. Retirement Group LLC now owns 182 shares of the CRM provider’s stock worth $39,000 after acquiring an additional 72 shares in the last quarter. HBC Financial Services PLLC boosted its holdings in Salesforce by 350.0% in the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock worth $39,000 after acquiring an additional 175 shares in the last quarter. Finally, Better Money Decisions LLC bought a new position in Salesforce in the second quarter worth approximately $47,000. Institutional investors own 77.02% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 47,095 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $144.88, for a total value of $6,823,123.60. Following the completion of the transaction, the insider now directly owns 95,155 shares of the company’s stock, valued at $13,786,056.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc Benioff sold 7,759 shares of Salesforce stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $153.50, for a total transaction of $1,191,006.50. Following the completion of the sale, the chief executive officer now owns 27,753,609 shares of the company’s stock, valued at $4,260,178,981.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 47,095 shares of Salesforce stock in a transaction on Monday, November 21st. The shares were sold at an average price of $144.88, for a total value of $6,823,123.60. Following the sale, the insider now directly owns 95,155 shares of the company’s stock, valued at approximately $13,786,056.40. The disclosure for this sale can be found here. Insiders sold 207,522 shares of company stock valued at $31,643,534 over the last three months. Company insiders own 3.60% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $149.25 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day simple moving average of $151.77 and a two-hundred day simple moving average of $164.81. Salesforce, Inc. has a 1 year low of $136.04 and a 1 year high of $299.27. The company has a market capitalization of $149.25 billion, a P/E ratio of 276.39, a P/E/G ratio of 4.01 and a beta of 1.12.

Salesforce (NYSE:CRMGet Rating) last posted its quarterly earnings results on Wednesday, August 24th. The CRM provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.15. Salesforce had a return on equity of 3.32% and a net margin of 1.83%. The firm had revenue of $7.72 billion during the quarter, compared to analyst estimates of $7.70 billion. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 2.21 earnings per share for the current year.

Salesforce announced that its board has initiated a stock buyback plan on Wednesday, August 24th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the CRM provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have recently commented on CRM. Jefferies Financial Group lowered their price objective on Salesforce from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Sunday. Piper Sandler lowered their price objective on Salesforce from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Citigroup lowered their price objective on Salesforce from $189.00 to $179.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th. Morgan Stanley lowered their price objective on Salesforce from $291.00 to $273.00 and set an “overweight” rating for the company in a research note on Tuesday, August 16th. Finally, Guggenheim raised Salesforce from a “sell” rating to a “neutral” rating and set a $150.00 price objective for the company in a research note on Friday, September 2nd. Six analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.24.

About Salesforce

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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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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