LFA Lugano Financial Advisors SA withdraws from Salesforce, Inc. (NYSE:CRM)

Financial Advisors


LFA Lugano Financial Advisors SA cut its equity position in Salesforce, Inc. (NYSE:CRM ​​- Get Rating) by 48.5% in the fourth quarter. The company owned 1,038 of his shares in the CRM provider after selling 976 of his shares during this period. LFA Lugano Financial Advisors SA’s Salesforce holdings were valued at $138,000 as of the latest filing with the Securities and Exchange Commission.

Other hedge funds have also changed positions within the company. Fairfield Bush & Co. increased his position in Salesforce by 8.7% in the first quarter. Fairfield Bush & Co. now owns 4,468 shares of his CRM provider worth $949,000 after purchasing an additional 357 shares of him last quarter. Roundview Capital LLC increased its position in Salesforce stock by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of his CRM provider worth $5,104,000 after acquiring an additional 3,809 shares in the previous quarter. Covestor Ltd increased its position in Salesforce stock by 42.8% in the first quarter. Covestor Ltd now owns 621 shares of his CRM provider worth $132,000 after acquiring an additional 186 shares in the previous quarter. Ergoteles LLC purchased $455,000 worth of new Salesforce stock in the first quarter. Finally, Mackenzie Financial Corp increased its position in Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider worth $182,797,000 after purchasing an additional 151,440 shares during this period. Institutional investors and hedge funds own 75.83% of the company’s shares.

Wall Street Analyst Predicts Growth

Many equity analysts focus heavily on equities. Wedbush raised his price target on Salesforce stock to $220.00 from his $200.00, giving it an “outperform” rating in its research notes on Thursday, March 2. Cowen raised his price target on Salesforce to $170.00 from his $160.00 and gave it an “outperform” rating in its research notes on Tuesday, Feb. 21. Bank of America raised its price target for Salesforce stock from $200.00 to $235.00 in its research notes on Thursday, March 2, giving the stock a Buy rating. JMP Securities reiterated its “Market Performing” rating in its research notes on Thursday, March 2nd, setting a $250.00 price target for Salesforce stock. Finally, Oppenheimer in his Thursday, March 2 research notes raised Salesforce’s price target from $185.00 to $225.00, marking the stock “outperform.” 1 analyst issued a sell rating, 12 analysts issued a hold rating, 28 analysts assigned a buy rating, and 1 analyst issued a strong buy rating on stocks. issued. According to MarketBeat.com, Salesforce currently has an average rating of “moderate buy” with a consensus price target of $211.24.

Salesforce shares up 2.2%

NYSE:CRM ​​rose $4.19 to $196.57 during Friday’s trading hours. 1,902,412 shares of the company’s stock were hand-traded, compared to an average turnover of 7,878,322. The company has a market capitalization of $192.81 billion, a P/E ratio of 916.14, a P/E/G ratio of 2.35 and a beta of 1.24. Salesforce, Inc. has a 12-month low of $126.34 and a 12-month high of $200.12. The company has a debt to equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day moving average price of $188.64 and a 200-day moving average price of $163.77.

Salesforce (NYSE:CRM ​​- Get Rating) last reported quarterly results on Wednesday, March 1. The CRM provider posted earnings per share of $1.68 for the quarter, beating consensus expectations of $1.36 by $0.32. Salesforce’s return on equity was 4.48% and net profit margin was 0.66%. The company’s revenue for the quarter was $8.38 billion, compared with analyst estimates of $7.99 billion. The company’s earnings were $0.24 per share in the year-ago quarter. Salesforce’s quarterly revenue increased 14.4% year-over-year. On average, research analysts expect Salesforce, Inc. to generate earnings per share of 4.88 for the current fiscal year.

Salesforce announced that its board of directors approved its share repurchase program on Wednesday, March 1. This would allow the company to buy back his $20 billion stake. This repurchase authorization allows CRM providers to purchase up to 10.9% stake through open market purchases. A stock buyback program generally indicates that the company’s board believes its stock is undervalued.

Insider activity at Salesforce

In related news, insider Parker Harris sold 7,500 shares of the company’s stock in a transaction that took place on Thursday, March 2nd. The shares sold at an average price of $188.18, and the transaction totaled him $1,411,350.00. After the transaction, insiders now own 96,795 shares of the company stock valued at $18,214,883.10. The sale was disclosed in legal filings with the SEC available at this hyperlink. In other Salesforce news, his insider, Parker Harris, sold 7,500 shares of the company’s stock in a transaction that took place Thursday, March 2nd. The shares were sold at an average price of $188.18, and the transaction totaled him $1,411,350.00. Following the closing of the sale, Insiders now own 96,795 shares of the company’s stock valued at $18,214,883.10. The sale is disclosed in documents filed with the Securities and Exchange Commission, which can be accessed on his website at the SEC. And her CFO, Amy E. Weaver, sold 510 shares of the company in a deal that took place on Monday, April 24th. The shares were sold at an average price of $196.33 for a total of $100,128.30. Following the sale, the Chief Financial Officer now directly owns 36,680 shares of the Company’s stock valued at approximately $7,201,384.40. Please see here for the disclosure of this sale. In the past 90 days, the insider has sold 47,931 shares of his company stock worth $8,884,870. The insider owns his 3.60% of the company’s shares.

Salesforce company profile

(get rating)

Salesforce, Inc. is committed to the design and development of cloud-based enterprise software for customer relationship management. Its solutions include sales force automation, customer service and support, marketing automation, digital commerce, community management, collaboration, industry-specific solutions, and the sales force platform.

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Want to know which other hedge funds have CRMs? Visit HoldingsChannel.com to get the latest Salesforce, Inc. (NYSE:CRM ​​- Get Rating) 13F filings and insider trading.

Quarterly Institutional Ownerships for Salesforce (NYSE:CRM)

This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to contact@marketbeat.com.

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