Secure Asset Management LLC Has $1.35 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Secure Asset Management LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 26.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,260 shares of the CRM provider’s stock after purchasing an additional 1,100 shares during the quarter. Secure Asset Management LLC’s holdings in Salesforce were worth $1,352,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. increased its stake in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Signature Resources Capital Management LLC acquired a new stake in Salesforce in the fourth quarter worth $26,000. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in shares of Salesforce during the first quarter valued at about $33,000. Finally, Creekmur Asset Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $269.32, for a total transaction of $4,039,800.00. Following the completion of the sale, the chief executive officer now owns 12,437,327 shares in the company, valued at approximately $3,349,620,907.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director G Mason Morfit purchased 428,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was purchased at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the purchase, the director now directly owns 3,914,309 shares in the company, valued at approximately $912,699,429.53. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $269.32, for a total value of $4,039,800.00. Following the transaction, the chief executive officer now owns 12,437,327 shares in the company, valued at $3,349,620,907.64. The disclosure for this sale can be found here. Insiders sold a total of 135,974 shares of company stock worth $33,440,920 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

CRM stock traded up $5.33 during mid-day trading on Friday, reaching $263.92. 4,709,214 shares of the company traded hands, compared to its average volume of 6,563,299. The company has a fifty day moving average price of $252.09 and a 200-day moving average price of $272.22. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a market capitalization of $255.74 billion, a P/E ratio of 47.47, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. Salesforce’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.61%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio is 28.78%.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Mizuho decreased their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Raymond James reissued a “strong-buy” rating and issued a $325.00 price objective (down previously from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. BMO Capital Markets lowered their target price on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target on shares of Salesforce in a research report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $291.50.

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.