Bradyco Inc. Purchases Shares of 3,894 Salesforce, Inc. (NYSE:CRM)

Bradyco Inc. purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 3,894 shares of the CRM provider’s stock, valued at approximately $1,302,000. Salesforce accounts for about 0.9% of Bradyco Inc.’s investment portfolio, making the stock its 25th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter worth $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the fourth quarter worth $31,000. Collier Financial acquired a new stake in shares of Salesforce in the fourth quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter worth $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CRM shares. Piper Sandler reduced their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Morgan Stanley raised their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Macquarie lowered their target price on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Scotiabank lowered their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $365.62.

Salesforce Stock Down 2.0 %

CRM stock opened at $286.01 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $273.72 billion, a PE ratio of 47.04, a PEG ratio of 2.58 and a beta of 1.35. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business’s 50 day simple moving average is $324.79 and its 200 day simple moving average is $308.06.

Salesforce (NYSE:CRM) last posted its earnings results 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Company Profile

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.