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Mitsubishi UFJ Trust & Banking Corp Sells 354 Shares of Salesforce, Inc. (NYSE:CRM)

Mitsubishi UFJ Trust & Banking Corp Sells 354 Shares of Salesforce, Inc. (NYSE:CRM)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 0.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 740,286 shares of the CRM provider’s stock after selling 354 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.08% of Salesforce worth $156,393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. UNIVEST FINANCIAL Corp acquired a new stake in Salesforce in the 2nd quarter valued at $3,736,000. Concord Wealth Partners boosted its stake in Salesforce by 9.8% in the 2nd quarter. Concord Wealth Partners now owns 1,247 shares of the CRM provider’s stock valued at $263,000 after buying an additional 111 shares in the last quarter. SouthState Corp boosted its stake in Salesforce by 0.5% in the 2nd quarter. SouthState Corp now owns 18,244 shares of the CRM provider’s stock valued at $3,854,000 after buying an additional 92 shares in the last quarter. Keystone Financial Group acquired a new stake in Salesforce in the 2nd quarter valued at $418,000. Finally, Principal Financial Group Inc. boosted its stake in Salesforce by 1.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,566,227 shares of the CRM provider’s stock valued at $330,881,000 after buying an additional 25,551 shares in the last quarter. 77.52% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $209.85, for a total transaction of $262,312.50. Following the completion of the transaction, the insider now directly owns 101,790 shares of the company’s stock, valued at $21,360,631.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Sundeep G. Reddy sold 164 shares of the stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $200.97, for a total transaction of $32,959.08. Following the completion of the transaction, the chief accounting officer now directly owns 2,576 shares of the company’s stock, valued at $517,698.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 1,250 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $209.85, for a total value of $262,312.50. Following the transaction, the insider now directly owns 101,790 shares of the company’s stock, valued at $21,360,631.50. The disclosure for this sale can be found here. Insiders sold 668,063 shares of company stock valued at $139,991,119 over the last three months. Company insiders own 3.70% of the company’s stock.

Salesforce Stock Down 0.0 %

Shares of Salesforce stock opened at $207.46 on Tuesday. Salesforce, Inc. has a 1 year low of $126.34 and a 1 year high of $238.22. The business has a 50-day moving average of $209.19 and a two-hundred day moving average of $210.57. The company has a market capitalization of $201.86 billion, a P/E ratio of 130.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 1.02.

Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, August 30th. The CRM provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.22. The company had revenue of $8.60 billion during the quarter, compared to the consensus estimate of $8.53 billion. Salesforce had a return on equity of 7.67% and a net margin of 4.77%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 5.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. UBS Group boosted their price target on Salesforce from $220.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, August 31st. Wells Fargo & Company boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, August 31st. Raymond James boosted their price objective on Salesforce from $260.00 to $280.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 31st. Roth Mkm boosted their price objective on Salesforce from $242.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, August 31st. Finally, Oppenheimer boosted their price objective on Salesforce from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $241.28.

View Our Latest Analysis on CRM

About Salesforce

(Free Report)

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 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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