CVA Family Office LLC Buys 132 Shares of Salesforce, Inc. (NYSE:CRM)

CVA Family Office LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,614 shares of the CRM provider’s stock after purchasing an additional 132 shares during the quarter. CVA Family Office LLC’s holdings in Salesforce were worth $442,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Ruedi Wealth Management Inc. raised its holdings in Salesforce by 186.7% during 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 during the period. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% during 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 raised its holdings in Salesforce by 816.7% during the 2nd 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 period. Red Tortoise LLC bought a new stake in Salesforce during the 1st quarter valued at $33,000. Finally, Stephens Consulting LLC raised its holdings in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,181,807.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,612 shares of company stock worth $21,283,087. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a report on Friday, August 30th. BMO Capital Markets upped their price target on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Finally, Loop Capital reiterated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Down 0.7 %

CRM traded down $2.07 on Friday, hitting $288.10. The company had a trading volume of 3,597,035 shares, compared to its average volume of 6,491,262. 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 52-week low of $193.68 and a 52-week high of $318.71. The stock has a fifty day simple moving average of $261.93 and a 200-day simple moving average of $263.88. The firm has a market capitalization of $275.42 billion, a P/E ratio of 50.10, a P/E/G ratio of 2.61 and a beta of 1.30.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders 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 annualized dividend and a dividend yield of 0.56%. Salesforce’s payout ratio is 27.83%.

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.