Salesforce, Inc. (NYSE:CRM) Shares Bought by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Salesforce, Inc. (NYSE:CRMGet Rating) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 683,725 shares of the CRM provider’s stock after acquiring an additional 4,601 shares during the period. Salesforce comprises 1.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 22nd largest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Salesforce were worth $173,755,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Morgan Stanley lifted its holdings in shares of Salesforce by 20.2% in the 2nd quarter. Morgan Stanley now owns 16,563,897 shares of the CRM provider’s stock worth $4,046,065,000 after purchasing an additional 2,787,393 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Salesforce by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 15,889,819 shares of the CRM provider’s stock worth $4,309,637,000 after purchasing an additional 805,630 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Salesforce by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 15,448,821 shares of the CRM provider’s stock worth $3,914,460,000 after purchasing an additional 564,493 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 4.7% in the 4th quarter. Fisher Asset Management LLC now owns 14,565,099 shares of the CRM provider’s stock worth $3,701,429,000 after purchasing an additional 655,371 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Salesforce by 42.2% in the 4th quarter. Jennison Associates LLC now owns 13,808,917 shares of the CRM provider’s stock worth $3,509,260,000 after purchasing an additional 4,096,666 shares during the last quarter. 77.75% of the stock is currently owned by institutional investors and hedge funds.

CRM traded up $2.72 on Wednesday, hitting $159.65. 7,332,868 shares of the stock traded hands, compared to its average volume of 7,407,791. Salesforce, Inc. has a 52 week low of $154.55 and a 52 week high of $311.75. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $158.11 billion, a PE ratio of 106.43, a P/E/G ratio of 4.47 and a beta of 1.16. The business has a fifty day moving average price of $186.96 and a two-hundred day moving average price of $222.03.

Salesforce (NYSE:CRMGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The CRM provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.12. Salesforce had a return on equity of 4.76% and a net margin of 5.45%. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.24 billion. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue was up 25.9% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce, Inc. will post 2.08 EPS for the current fiscal year.

Several analysts recently issued reports on CRM shares. CICC Research began coverage on Salesforce in a report on Monday, May 9th. They issued an “outperform” rating on the stock. Canaccord Genuity Group cut their target price on Salesforce from $315.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Bank of America cut their target price on Salesforce from $360.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Canaccord Genuity Group cut their target price on Salesforce from $315.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, March 2nd. Finally, Roth Capital raised Salesforce from a “neutral” rating to a “buy” rating and set a $242.00 target price on the stock in a research note on Wednesday, May 18th. Five analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $283.20.

In other Salesforce news, insider Srinivas Tallapragada sold 20,000 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $203.57, for a total transaction of $4,071,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction on Monday, April 4th. The stock was sold at an average price of $218.64, for a total value of $502,872.00. Following the transaction, the chief executive officer now directly owns 28,918,241 shares in the company, valued at approximately $6,322,684,212.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,735 shares of company stock worth $27,308,217. 4.10% of the stock is owned by corporate insiders.

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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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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