) in the fourth quarter according to the most recent disclosure filed with the Securities & Exchange Commission. The institutional investor held 1,939 of the CRM provider stock after selling about 115 shares in the last quarter. Regent Peak Wealth Advisors LLC held 259,000 shares of Salesforce as per its latest SEC filing.
Recently, other large investors have also bought and sold shares in the company. Financial Management Professionals Inc. grew its stake in Salesforce shares by 365.2% over the course of the fourth quarter. Financial Management Professionals Inc. owns 214 of the CRM provider stock, worth $28,000, after purchasing an additional 168 during the period. Capital Directions Investment Advisors LLC purchased a new Salesforce stake valued at approximately $28,000 in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV increased its position in Salesforce shares by 5061% during the third quarter. Investors Asset Management of Georgia Inc. GA ADV owns 200 of the CRM provider stock, worth $29,000. This is after buying an additional 167 stocks during the third quarter. GHP Investment Advisors Inc. increased their position in Salesforce by 113.4 percent during the third-quarter. GHP Investment Advisors Inc. owns 207 of the CRM provider stock, worth $30,000, after purchasing 110 additional shares during the third quarter. MinichMacGregor Wealth Management LLC also acquired shares of Salesforce during the fourth quarter, valued at about $31,000. On Friday, the stock opened at $197.59. Salesforce, Inc.'s one-year low is $126.34, and its one-year high is $200.12. The debt-to equity ratio is 0.16. Current ratios are 1.02, and quick ratios are 1.02. The company has a moving average for the last 50 days of $189.34, and a moving average for the past 200 days of $164.12. The market cap is $193.81 Billion, with a P/E/G of 2.35, and a beta value of 1.24.
The last time ) released its quarterly results was on March 1st. The CRM provider beat the consensus estimate by $0.32 and reported $1.68 per share in earnings for the third quarter. Salesforce's net margin was 0.66%, and its return on equity was 4.48%. Analysts had expected $7.99 billion in revenue for the quarter. The firm's revenue was $8.38 billion. In the same quarter of the previous year, the company earned $0.24 per share. Revenue was up 14.4% year-over-year. Analysts expect Salesforce, Inc. to post an average of 4.88 earnings per common share during the current fiscal period.
Salesforce announced on March 1, 2014 that the board of directors had authorized a plan to buy back $20.00 billion worth of outstanding shares. The CRM provider can repurchase as much as 10.9% of their shares via open market purchases. Repurchase plans for shares usually indicate that management of the company believes its stock is undervalued.
Insider Activities at Salesforce
Sundeep G. Reddy, CAO of Salesforce, sold 221 shares in the company's stock on Thursday, 23rd March. The shares were sold for an average price $187.96. This totaled $41,539.16. The chief accounting officer owns 1,625 stock shares worth $305,435 after the sale. The firm sold 1,250 shares in a deal that took place on May 2nd. The shares were purchased at an average of $198.02 for a transaction totaling $247,525.00. After the sale was completed, the insider owns approximately $19,863,188.18 worth of stock. Sundeep G. Reddy, the CAO, sold 221 shares in a transaction that took place on Thursday, 23rd March. The stock was bought at an average of $187.96 for a transaction totaling $41,539.16. After the transaction, the chief accountant now owns directly 1,625 shares of the company valued at $305,435. In the past three months, insiders sold 47,931 company shares valued at $8.884,870. Insiders own 3.60%.
Analysts set new price targets
A number of research firms have made comments on CRM. Cowen downgraded Salesforce's rating from 'outperform to market perform' in a report published on Friday, 20th January. Mizuho raised their price target for Salesforce from $200.00 up to $225.00 in a report published on Thursday, 2nd March. The company was also given a "buy" rating. Atlantic Securities raised their price target on Salesforce in a report published on Thursday, 2nd March from $140.00 up to $200.00. In a research report published on Thursday, 2nd March, Deutsche Bank Aktiengesellschaft increased their target price for Salesforce from $190.00 up to $240.00. The company was also given a "buy" rating. Wells Fargo & Company raised their target price for Salesforce from $200.00 up to $225.00 in a report published on Thursday, 2nd March. They also gave the stock a 'overweight rating'. One analyst gave the stock a sell recommendation, 12 others a hold recommendation, 28 analysts a buy recommendation, and 1 gave a strong-buy rating. MarketBeat data shows that the stock has a current consensus rating of "Moderate Buy" and a target price of $201.14.
Salesforce Company Profile
Salesforce, Inc is a cloud-based enterprise application for managing customer relationships. Salesforce's solutions include customer service, sales force automation and marketing automation.
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