Salesforce, Inc. (NYSE:CRM) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 185,164 shares of the CRM provider’s stock after buying an additional 9,097 shares during the quarter. Salesforce makes up 1.4% of OVERSEA CHINESE BANKING Corp Ltd’s holdings, making the stock its 13th biggest position. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Salesforce were worth $50,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Piscataqua Savings Bank grew its stake in 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 acquiring an additional 96 shares during the period. Clear Investment Research LLC grew its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter worth about $33,000. Finally, Stephens Consulting LLC lifted its stake in Salesforce by 3,125.0% in the 2nd 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. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce 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 completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Parker Harris sold 3,970 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,373 shares of company stock valued at $41,250,680 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 6.1 %

Shares of CRM opened at $341.74 on Tuesday. The company’s 50-day simple moving average is $279.53 and its 200-day simple moving average is $264.83. 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 1 year low of $211.76 and a 1 year high of $344.88. The stock has a market capitalization of $326.70 billion, a PE ratio of 59.43, a P/E/G ratio of 2.91 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company 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 business earned $1.63 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared 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 was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wells Fargo & Company increased their target price on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Stifel Nicolaus lifted their target price on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $314.80.

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.