Salesforce, Inc. (NYSE:CRM) Shares Bought by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC grew its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 23.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 6,263 shares of the CRM provider’s stock after purchasing an additional 1,190 shares during the period. Moloney Securities Asset Management LLC’s holdings in Salesforce were worth $1,714,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. boosted its stake in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank lifted its position in 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 acquiring an additional 96 shares during the period. Clear Investment Research LLC grew its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 1,400 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,585,731.22. This 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 can be accessed through this link. In related news, insider Parker Harris sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 4,056 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. Insiders have sold a total of 146,003 shares of company stock valued at $41,494,084 in the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Up 1.1 %

CRM opened at $298.01 on Tuesday. The stock’s 50 day moving average price is $273.68 and its 200 day moving average price is $263.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $284.90 billion, a P/E ratio of 51.83, a P/E/G ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $204.69 and a 12 month high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Morgan Stanley boosted their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Cfra set a $343.00 price objective on Salesforce in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Read Our Latest Analysis on Salesforce

Salesforce Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRMFree Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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