5,578 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Doheny Asset Management CA

Doheny Asset Management CA acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,578 shares of the CRM provider’s stock, valued at approximately $1,434,000. Salesforce accounts for 1.1% of Doheny Asset Management CA’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors also recently bought and sold shares of CRM. Fox Hill Wealth Management raised its holdings in shares of Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the last quarter. Glassman Wealth Services increased its holdings in shares of Salesforce by 2.9% in the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after purchasing an additional 39 shares during the last quarter. Blue Barn Wealth LLC increased its holdings in shares of Salesforce by 1.8% in the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after purchasing an additional 39 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its holdings in shares of Salesforce by 0.8% in the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after purchasing an additional 39 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.7 %

NYSE:CRM opened at $245.76 on Tuesday. The firm has a market cap of $238.14 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29. The stock has a fifty day moving average price of $254.31 and a 200 day moving average price of $269.24. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders 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 yield of 0.65%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the sale, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 59,892 shares of company stock worth $15,269,897 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CRM shares. Sanford C. Bernstein increased their price target on Salesforce from $234.00 to $236.00 and gave the company 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. UBS Group increased their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Stifel Nicolaus increased their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $304.41.

Salesforce Company 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.