KG&L Capital Management LLC Purchases 308 Shares of Salesforce, Inc. (NYSE:CRM)

KG&L Capital Management LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,387 shares of the CRM provider’s stock after purchasing an additional 308 shares during the quarter. KG&L Capital Management LLC’s holdings in Salesforce were worth $927,000 as of its most recent SEC filing.

Other hedge funds 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 first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the period. Stephens Consulting LLC raised its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter valued at $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE:CRM opened at $294.72 on Monday. The company has a market capitalization of $281.75 billion, a P/E ratio of 51.26, a P/E/G ratio of 2.64 and a beta of 1.29. The business has a fifty day simple moving average of $273.02 and a two-hundred day simple moving average of $263.18. 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, Inc. has a 1 year low of $204.69 and a 1 year high of $318.71.

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. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. On average, analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s payout ratio is 27.83%.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and set a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Oppenheimer reiterated an “outperform” rating and issued a $330.00 price objective (up previously from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Nine investment 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $313.37.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the transaction, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,303 shares of company stock valued at $42,024,385 over the last three months. Company insiders own 3.20% of the company’s stock.

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.