Leo Wealth LLC Has $2.32 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Leo Wealth LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 10.2% during the third quarter, HoldingsChannel.com reports. The fund owned 8,473 shares of the CRM provider’s stock after purchasing an additional 783 shares during the period. Leo Wealth LLC’s holdings in Salesforce were worth $2,319,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CRM. Capital Research Global Investors raised its position in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. GQG Partners LLC acquired a new position in Salesforce in the 1st quarter worth $910,220,000. Swedbank AB bought a new position in Salesforce during the 1st quarter worth about $874,748,000. Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. Finally, AMF Tjanstepension AB lifted its holdings in shares of Salesforce by 376.1% in the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after purchasing an additional 1,139,472 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

CRM traded down $2.71 during trading on Tuesday, hitting $288.58. The stock had a trading volume of 1,882,926 shares, compared to its average volume of 6,373,933. The company has a 50 day moving average price of $267.44 and a 200-day moving average price of $263.18. The firm has a market cap of $279.63 billion, a price-to-earnings ratio of 51.96, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. 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 (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 EPS. As a group, research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Activity at Salesforce

In other news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. 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 hyperlink. In related news, COO Brian Millham sold 969 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sabastian Niles sold 2,484 shares of the company’s 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 of the company’s stock, valued at approximately $202,702.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,110 shares of company stock worth $20,292,760 in the last ninety days. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

CRM has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a report on Thursday, September 19th. Morgan Stanley raised their target price on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Citigroup raised their price objective on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $311.66.

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.