Salesforce, Inc. (NYSE:CRM) Shares Purchased by Riversedge Advisors LLC

Riversedge Advisors LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,920 shares of the CRM provider’s stock after purchasing an additional 122 shares during the quarter. Riversedge Advisors LLC’s holdings in Salesforce were worth $526,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CRM. XN LP grew its position in Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after buying an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after acquiring an additional 2,589 shares in the last quarter. M&G Plc acquired a new position in shares of Salesforce during the first quarter worth about $2,178,000. First Foundation Advisors raised its holdings in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares in the last quarter. Finally, St. Johns Investment Management Company LLC lifted its position in Salesforce by 4.1% in the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. DA Davidson increased their price objective on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Citigroup increased their price target on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Trading Up 0.2 %

NYSE CRM traded up $0.46 during trading hours on Thursday, hitting $291.32. 1,037,399 shares of the company’s stock were exchanged, compared to its average volume of 6,421,925. The business’s 50 day moving average is $265.00 and its 200-day moving average is $263.65. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The firm has a market capitalization of $282.29 billion, a P/E ratio of 52.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm posted $1.63 EPS. The company’s revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Transactions at Salesforce

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at $34,353,653.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,429,961 in the last ninety days. Insiders own 3.20% of the company’s stock.

About Salesforce

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.