Moss Adams Wealth Advisors LLC Purchases 683 Shares of Salesforce, Inc. (NYSE:CRM)

Moss Adams Wealth Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 39.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,397 shares of the CRM provider’s stock after purchasing an additional 683 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Salesforce were worth $657,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. XN LP grew its stake in shares of Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. increased its stake in shares of Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after buying an additional 2,589 shares during the period. M&G Plc bought a new stake in Salesforce in the first quarter valued at $2,178,000. First Foundation Advisors boosted its holdings in Salesforce by 38.0% in the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after acquiring an additional 228 shares in the last quarter. Finally, St. Johns Investment Management Company LLC increased its position in Salesforce by 4.1% during the 1st quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after purchasing an additional 228 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 2,037 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the transaction, the chief operating officer now directly owns 1,947 shares of the company’s stock, valued at approximately $484,316.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Brian Millham sold 2,037 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the transaction, the chief operating officer now owns 1,947 shares of the company’s stock, valued at approximately $484,316.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,612 shares of company stock valued at $21,429,961. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $293.07 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The business has a 50-day moving average price of $266.65 and a 200-day moving average price of $263.77. The firm has a market cap of $283.98 billion, a price-to-earnings ratio of 52.71, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s dividend payout ratio is currently 28.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRM shares. Stifel Nicolaus lifted their target price 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. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Canaccord Genuity Group lifted their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. UBS Group raised their price objective on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Cfra set a $343.00 target price on shares of Salesforce in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $311.66.

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.