GPM Growth Investors Inc. Has $3.49 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

GPM Growth Investors Inc. reduced its stake in Salesforce, Inc. (NYSE:CRM) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,444 shares of the CRM provider’s stock after selling 218 shares during the quarter. Salesforce comprises 1.5% of GPM Growth Investors Inc.’s holdings, making the stock its 25th largest holding. GPM Growth Investors Inc.’s holdings in Salesforce were worth $3,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Nvest Financial LLC lifted its holdings in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD lifted its holdings in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the period. Sachetta LLC raised its position in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC raised its position in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM opened at $292.05 on Thursday. The firm has a market cap of $279.49 billion, a price-to-earnings ratio of 48.03, a price-to-earnings-growth ratio of 2.58 and a beta of 1.35. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $325.91 and a 200-day moving average price of $308.21. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Scotiabank decreased their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 27th. Citigroup reissued a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $365.32.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,793 shares of company stock valued at $383,156,227 over the last 90 days. Company insiders own 3.20% of the company’s stock.

About Salesforce

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.