Salesforce, Inc. (NYSE:CRM) Shares Acquired by Cavalier Investments LLC

Cavalier Investments LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,347 shares of the CRM provider’s stock after purchasing an additional 966 shares during the quarter. Salesforce makes up 1.4% of Cavalier Investments LLC’s portfolio, making the stock its 19th biggest holding. Cavalier Investments LLC’s holdings in Salesforce were worth $4,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Prentice Wealth Management LLC grew its holdings in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares in the last quarter. Fulton Bank N.A. increased its holdings in Salesforce by 0.4% in the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 38 shares in the last quarter. CRA Financial Services LLC grew its stake in shares of Salesforce by 3.4% in the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock valued at $318,000 after buying an additional 38 shares in the last quarter. Finally, Boomfish Wealth Group LLC lifted its position in shares of Salesforce by 0.4% during the third quarter. Boomfish Wealth Group LLC now owns 9,312 shares of the CRM provider’s stock worth $2,549,000 after purchasing an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $290.46 on Monday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $269.73 and a 200-day moving average price of $262.79. The company has a market cap of $281.46 billion, a price-to-earnings ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 969 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total transaction of $277,676.64. The disclosure for this sale can be found here. Insiders have sold a total of 87,781 shares of company stock worth $23,696,593 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CRM. Raymond James lifted their price objective on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. BMO Capital Markets increased their price objective on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Finally, TD Cowen upped their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $312.51.

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.