Forsta AP Fonden Buys 9,500 Shares of Salesforce, Inc. (NYSE:CRM)

Forsta AP Fonden grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 250,647 shares of the CRM provider’s stock after buying an additional 9,500 shares during the period. Salesforce makes up 0.6% of Forsta AP Fonden’s investment portfolio, making the stock its 26th biggest holding. Forsta AP Fonden’s holdings in Salesforce were worth $64,441,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Ruedi Wealth Management Inc. lifted its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank increased its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC bought a new position in Salesforce during the 1st quarter valued at about $33,000. Stephens Consulting LLC boosted its position in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in Salesforce during the fourth quarter worth about $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares in the company, valued at $977,122.20. The disclosure for this sale can be found here. Insiders have sold a total of 59,892 shares of company stock worth $15,269,897 over the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several recent research reports. UBS Group boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. TD Cowen lifted their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. DA Davidson increased their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Jefferies Financial Group cut their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Robert W. Baird increased their price target on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Trading Up 1.4 %

Shares of Salesforce stock opened at $249.57 on Thursday. The company has a market capitalization of $241.83 billion, a price-to-earnings ratio of 44.89, a P/E/G ratio of 2.21 and a beta of 1.29. The business has a fifty day simple moving average of $253.88 and a two-hundred day simple moving average of $268.78. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.63 EPS. Research analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.64%. Salesforce’s dividend payout ratio is currently 28.78%.

Salesforce 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.