Salesforce, Inc. (NYSE:CRM) Shares Purchased by Belmont Capital LLC

Belmont Capital LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 203.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 6,570 shares of the CRM provider’s stock after acquiring an additional 4,403 shares during the period. Belmont Capital LLC’s holdings in Salesforce were worth $1,798,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of Salesforce by 103.5% during the 1st quarter. Bessemer Group Inc. now owns 54,761 shares of the CRM provider’s stock worth $16,494,000 after purchasing an additional 27,850 shares during the last quarter. Vaughan David Investments LLC IL purchased a new position in shares of Salesforce in the first quarter valued at approximately $324,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Salesforce by 31.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 81,100 shares of the CRM provider’s stock worth $24,426,000 after acquiring an additional 19,200 shares during the last quarter. InterOcean Capital Group LLC increased its position in shares of Salesforce by 18.0% during the first quarter. InterOcean Capital Group LLC now owns 4,062 shares of the CRM provider’s stock worth $1,223,000 after purchasing an additional 621 shares in the last quarter. Finally, Evermay Wealth Management LLC raised its stake in Salesforce by 5.1% in the 1st quarter. Evermay Wealth Management LLC now owns 1,879 shares of the CRM provider’s stock valued at $566,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 2,934 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the transaction, the insider now owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 44.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,173 shares of company stock valued at $40,146,206 in the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 0.9 %

Salesforce stock opened at $322.25 on Tuesday. The stock has a market capitalization of $308.07 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 2.94 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $288.14 and a two-hundred day moving average of $266.96. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86.

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

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.50%. 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 research firms have weighed in on CRM. Wells Fargo & Company raised their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Raymond James boosted their price objective on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Bank of America boosted their price target on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, UBS Group raised their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $325.36.

About Salesforce

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.