Juncture Wealth Strategies LLC Sells 682 Shares of Salesforce, Inc. (NYSE:CRM)

Juncture Wealth Strategies LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRMGet Rating) by 24.4% in the second quarter, HoldingsChannel.com reports. The fund owned 2,115 shares of the CRM provider’s stock after selling 682 shares during the period. Juncture Wealth Strategies LLC’s holdings in Salesforce were worth $349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Marcum Wealth LLC lifted its stake in Salesforce by 7.3% in the 2nd quarter. Marcum Wealth LLC now owns 2,384 shares of the CRM provider’s stock valued at $393,000 after purchasing an additional 162 shares during the last quarter. Tompkins Financial Corp lifted its stake in Salesforce by 20.7% in the 2nd quarter. Tompkins Financial Corp now owns 1,706 shares of the CRM provider’s stock valued at $281,000 after purchasing an additional 292 shares during the last quarter. Gofen & Glossberg LLC IL lifted its stake in Salesforce by 1.7% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 212,892 shares of the CRM provider’s stock valued at $35,136,000 after purchasing an additional 3,483 shares during the last quarter. First Bancorp Inc ME increased its position in Salesforce by 17.2% in the 2nd quarter. First Bancorp Inc ME now owns 3,717 shares of the CRM provider’s stock valued at $614,000 after acquiring an additional 545 shares during the period. Finally, Signature Wealth Management Group increased its position in Salesforce by 3.8% in the 2nd quarter. Signature Wealth Management Group now owns 11,232 shares of the CRM provider’s stock valued at $1,854,000 after acquiring an additional 409 shares during the period. Institutional investors own 77.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CRM. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Salesforce from $260.00 to $255.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. Cowen decreased their price target on shares of Salesforce from $225.00 to $210.00 and set an “outperform” rating for the company in a research report on Thursday, August 25th. Mizuho decreased their price target on shares of Salesforce from $245.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, August 25th. Loop Capital decreased their price objective on shares of Salesforce from $225.00 to $175.00 and set a “hold” rating for the company in a research report on Thursday, June 2nd. Finally, Robert W. Baird dropped their target price on shares of Salesforce from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, August 25th. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $242.71.

Salesforce Stock Performance

Shares of Salesforce stock traded up $3.24 during trading hours on Thursday, reaching $150.87. The company had a trading volume of 541,837 shares, compared to its average volume of 8,018,641. Salesforce, Inc. has a one year low of $147.51 and a one year high of $311.75. The business has a fifty day simple moving average of $172.06 and a 200 day simple moving average of $179.01. 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 firm has a market cap of $150.87 billion, a PE ratio of 278.20, a price-to-earnings-growth ratio of 4.07 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 anticipate that Salesforce, Inc. will post 2.2 earnings per share for the current fiscal year.

Salesforce announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 24th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the CRM provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 2,300 shares of Salesforce stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $190.69, for a total transaction of $438,587.00. Following the completion of the sale, the chief executive officer now owns 27,761,368 shares in the company, valued at approximately $5,293,815,263.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 2,300 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $190.69, for a total transaction of $438,587.00. Following the completion of the transaction, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at $5,293,815,263.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 516 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $177.86, for a total value of $91,775.76. Following the transaction, the chief financial officer now directly owns 30,486 shares of the company’s stock, valued at approximately $5,422,239.96. The disclosure for this sale can be found here. Insiders sold a total of 68,946 shares of company stock worth $11,992,250 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

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

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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