Salesforce, Inc. (NYSE:CRM) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,718 shares of the CRM provider’s stock after acquiring an additional 145 shares during the quarter. Wealthspire Advisors LLC’s holdings in Salesforce were worth $1,984,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Leelyn Smith LLC increased its stake in Salesforce by 8.0% during the 2nd quarter. Leelyn Smith LLC now owns 6,677 shares of the CRM provider’s stock worth $1,717,000 after buying an additional 496 shares during the period. Thoroughbred Financial Services LLC grew its stake in shares of Salesforce by 32.4% during the second quarter. Thoroughbred Financial Services LLC now owns 24,432 shares of the CRM provider’s stock valued at $6,281,000 after acquiring an additional 5,981 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Salesforce by 0.5% during the second quarter. Parallel Advisors LLC now owns 66,129 shares of the CRM provider’s stock worth $17,002,000 after acquiring an additional 300 shares during the last quarter. Stoneridge Investment Partners LLC lifted its stake in shares of Salesforce by 150.2% in the second quarter. Stoneridge Investment Partners LLC now owns 22,429 shares of the CRM provider’s stock worth $5,766,000 after acquiring an additional 13,464 shares in the last quarter. Finally, Westover Capital Advisors LLC boosted its holdings in Salesforce by 179.3% in the second quarter. Westover Capital Advisors LLC now owns 2,463 shares of the CRM provider’s stock valued at $633,000 after purchasing an additional 1,581 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CRM shares. Robert W. Baird lifted their price objective on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Bank of America restated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Stifel Nicolaus increased their price objective on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.41.

Salesforce Stock Performance

Shares of CRM opened at $254.57 on Friday. The firm has a market capitalization of $246.68 billion, a PE ratio of 45.79, a P/E/G ratio of 2.26 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $253.56 and a 200 day moving average price of $268.14. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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. 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 analysts’ expectations of $9.22 billion. During the same period last year, the firm posted $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the firm’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 transaction of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders sold a total of 62,376 shares of company stock worth $15,878,005 over the last 90 days. 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.