Valeo Financial Advisors LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

Valeo Financial Advisors LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 2.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 79,256 shares of the CRM provider’s stock after acquiring an additional 1,695 shares during the period. Salesforce comprises approximately 0.6% of Valeo Financial Advisors LLC’s holdings, making the stock its 27th biggest holding. Valeo Financial Advisors LLC’s holdings in Salesforce were worth $21,693,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Ruedi Wealth Management Inc. grew its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% during the second 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 last quarter. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Red Tortoise LLC purchased a new stake in Salesforce during the 1st quarter worth $33,000. Finally, Stephens Consulting LLC raised its position in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares in the company, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,612 shares of company stock valued at $21,283,087. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRM shares. Canaccord Genuity Group raised their target price on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Wells Fargo & Company raised their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Wedbush boosted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Finally, TD Cowen boosted their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Performance

Shares of NYSE CRM opened at $288.10 on Friday. The company has a market capitalization of $275.42 billion, a P/E ratio of 50.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. 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, Inc. has a one year low of $193.68 and a one year high of $318.71. The business’s 50-day moving average price is $261.93 and its two-hundred day moving average price is $264.17.

Salesforce (NYSE:CRM) last posted its 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 company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’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 firm posted $1.63 earnings per share. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

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.