Romano Brothers AND Company Buys Shares of 3,961 Salesforce, Inc. (NYSE:CRM)

Romano Brothers AND Company purchased a new position in shares of Salesforce, Inc. (NYSE:CRM – Get Rating) during the third quarter, Holdings Channel.com reports. The fund purchased 3,961 shares of the CRM provider’s stock, valued at approximately $570,000.

A number of other large investors have also modified their holdings of the business. Sound Income Strategies LLC grew its stake in shares of Salesforce by 69.7% during the third quarter. Sound Income Strategies LLC now owns 443 shares of the CRM provider’s stock worth $64,000 after acquiring an additional 182 shares during the last quarter. CGN Advisors LLC grew its stake in shares of Salesforce by 30.6% during the third quarter. CGN Advisors LLC now owns 7,251 shares of the CRM provider’s stock worth $1,043,000 after acquiring an additional 1,699 shares during the last quarter. Plimoth Trust Co. LLC grew its stake in shares of Salesforce by 3.4% during the third quarter. Plimoth Trust Co. LLC now owns 23,666 shares of the CRM provider’s stock worth $3,404,000 after acquiring an additional 775 shares during the last quarter. Core Alternative Capital grew its stake in shares of Salesforce by 33.3% during the third quarter. Core Alternative Capital now owns 1,437 shares of the CRM provider’s stock worth $207,000 after acquiring an additional 359 shares during the last quarter. Finally, Manning & Napier Group LLC grew its stake in shares of Salesforce by 1.5% during the third quarter. Manning & Napier Group LLC now owns 852,354 shares of the CRM provider’s stock worth $122,600,000 after acquiring an additional 12,845 shares during the last quarter. Hedge funds and other institutional investors own 75.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Piper Sandler dropped their target price on Salesforce from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating and set a $150.00 target price on the stock in a research report on Friday, September 2nd. Stifel Nicolaus dropped their target price on Salesforce from $200.00 to $185.00 in a research report on Monday, November 28th. Truist Financial dropped their target price on Salesforce from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, December 1st. Finally, Mizuho dropped their target price on Salesforce from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, December 1st. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $196.85.

Salesforce Stock Up 0.2 %

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NYSE CRM opened at $129.44 on Monday. The business has a fifty day moving average price of $146.74 and a 200 day moving average price of $160.05. Salesforce, Inc. has a one year low of $126.34 and a one year high of $260.78. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $129.44 billion, a P/E ratio of 462.29, a P/E/G ratio of 3.25 and a beta of 1.10.

Salesforce (NYSE:CRM – Get Rating) last posted its quarterly earnings data on Wednesday, November 30th. The CRM provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.21 by $0.19. Salesforce had a return on equity of 3.21% and a net margin of 0.92%. The firm had revenue of $7.84 billion during the quarter, compared to the consensus estimate of $7.83 billion. During the same period in the prior year, the company earned $0.78 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 2.38 EPS for the current fiscal year.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,300 shares of the company’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $148.91, for a total value of $342,493.00. Following the completion of the sale, the chief executive officer now directly owns 27,761,368 shares in the company, valued at approximately $4,133,945,308.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Bret Steven Taylor sold 612 shares of the stock in a transaction on Monday, October 24th. The stock was sold at an average price of $160.25, for a total transaction of $98,073.00. Following the completion of the transaction, the chief executive officer now directly owns 900,172 shares in the company, valued at approximately $144,252,563. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 2,300 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $148.91, for a total value of $342,493.00. Following the transaction, the chief executive officer now owns 27,761,368 shares of the company’s stock, valued at $4,133,945,308.88. The disclosure for this sale can be found here. Insiders sold a total of 184,836 shares of company stock worth $28,048,456 in the last three months. 3.60% of the stock is owned by corporate insiders.

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.