Richelieu Gestion SA Raises Stake in Salesforce, Inc. (NYSE:CRM)

Richelieu Gestion SA lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 650 shares of the CRM provider’s stock after buying an additional 50 shares during the period. Richelieu Gestion SA’s holdings in Salesforce were worth $196,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new position in Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter valued at about $31,000. BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter valued at approximately $34,000. Finally, Pacifica Partners Inc. grew its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the transaction, the insider now directly owns 22,154 shares in the company, valued at $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold 541,787 shares of company stock worth $149,773,683 over the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of Salesforce stock traded up $1.37 during trading on Wednesday, hitting $243.13. The stock had a trading volume of 3,049,858 shares, compared to its average volume of 6,877,961. The business has a fifty day moving average of $261.10 and a two-hundred day moving average of $276.56. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market cap of $235.59 billion, a P/E ratio of 43.55, a PEG ratio of 2.12 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts expect that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. KeyCorp started coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price objective on shares of Salesforce in a report on Friday, May 24th. Sanford C. Bernstein upped their price target on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Thursday, May 30th. Finally, Wedbush dropped their price objective on Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Profile

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.