Seed Wealth Management Inc. Purchases 40 Shares of Salesforce, Inc. (NYSE:CRM)

Seed Wealth Management Inc. boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,690 shares of the CRM provider’s stock after acquiring an additional 40 shares during the quarter. Salesforce accounts for approximately 1.1% of Seed Wealth Management Inc.’s holdings, making the stock its 26th largest position. Seed Wealth Management Inc.’s holdings in Salesforce were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CRM. Norges Bank purchased a new position in shares of Salesforce in the fourth quarter worth approximately $2,762,331,000. Capital International Investors boosted its stake in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares during the last quarter. Cerity Partners LLC grew its position in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after acquiring an additional 3,226,512 shares during the period. Coatue Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Salesforce by 110.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after purchasing an additional 1,780,421 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 4.0 %

Shares of CRM stock traded up $9.82 during mid-day trading on Thursday, hitting $252.97. 12,862,790 shares of the stock traded hands, compared to its average volume of 6,938,266. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market cap of $245.13 billion, a P/E ratio of 45.48, a P/E/G 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. The stock’s fifty day moving average is $260.43 and its two-hundred day moving average is $276.33.

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

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $305.42, for a total value of $4,581,300.00. Following the completion of the transaction, the chief executive officer now directly owns 12,981,166 shares in the company, valued at $3,964,707,719.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $305.42, for a total transaction of $4,581,300.00. Following the completion of the transaction, the chief executive officer now directly owns 12,981,166 shares in the company, valued at $3,964,707,719.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 5,864 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the completion of the sale, the chief financial officer now directly owns 45,231 shares in the company, valued at $12,428,121.87. The disclosure for this sale can be found here. Insiders have sold a total of 541,787 shares of company stock valued at $149,773,683 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Mizuho reduced their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Citigroup lowered their price objective on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Jefferies Financial Group cut their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Argus upped their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 target price on shares of Salesforce in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.