Salesforce, Inc. (NYSE:CRM) is Ithaka Group LLC’s 9th Largest Position

Ithaka Group LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,711 shares of the CRM provider’s stock after selling 2,253 shares during the quarter. Salesforce accounts for 3.6% of Ithaka Group LLC’s portfolio, making the stock its 9th biggest holding. Ithaka Group LLC’s holdings in Salesforce were worth $19,722,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Financial Perspectives Inc boosted its holdings in Salesforce by 197.3% during the 2nd quarter. Financial Perspectives Inc now owns 223 shares of the CRM provider’s stock valued at $57,000 after acquiring an additional 148 shares during the period. Capital Wealth Planning LLC lifted its holdings in shares of Salesforce by 3.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 10,743 shares of the CRM provider’s stock worth $2,762,000 after buying an additional 312 shares during the period. Angeles Investment Advisors LLC lifted its holdings in shares of Salesforce by 8.2% in the 2nd quarter. Angeles Investment Advisors LLC now owns 2,773 shares of the CRM provider’s stock worth $713,000 after buying an additional 211 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Salesforce by 5.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,263 shares of the CRM provider’s stock worth $5,467,000 after buying an additional 1,120 shares during the period. Finally, Quilter Plc lifted its holdings in shares of Salesforce by 3.1% in the 2nd quarter. Quilter Plc now owns 161,083 shares of the CRM provider’s stock worth $41,414,000 after buying an additional 4,771 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $254.57 on Monday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a market cap of $246.68 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50 day moving average price is $253.56 and its 200 day moving average price is $267.91.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the business posted $1.63 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

Analysts Set New Price Targets

CRM has been the subject of several research reports. FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Friday, September 6th. TD Cowen raised their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Finally, BMO Capital Markets raised their price objective on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $305.55.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at $202,702.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $30,920,275.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The disclosure for this sale can be found here. Insiders have sold 62,376 shares of company stock worth $15,878,005 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.