Brooklyn Investment Group Buys 346 Shares of Salesforce, Inc. (NYSE:CRM)

Brooklyn Investment Group lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,167 shares of the CRM provider’s stock after purchasing an additional 346 shares during the period. Salesforce accounts for about 0.6% of Brooklyn Investment Group’s holdings, making the stock its 29th biggest position. Brooklyn Investment Group’s holdings in Salesforce were worth $1,962,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in 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 valued at $28,000 after acquiring an additional 98 shares during the last quarter. Stephens Consulting LLC lifted its holdings 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 acquiring an additional 125 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the second quarter worth $33,000. Finally, Godsey & Gibb Inc. grew its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Scotiabank began coverage on shares of Salesforce in a report on Monday, November 18th. They set a “sector outperform” rating and a $425.00 price objective on the stock. Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. TD Cowen raised their price objective on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Finally, Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday, October 17th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $339.66.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was 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 of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,510 shares of company stock worth $42,475,538. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $339.12 on Tuesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The stock has a market cap of $324.20 billion, a P/E ratio of 58.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. The firm’s fifty day simple moving average is $296.26 and its 200 day simple moving average is $268.98. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm earned $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

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.