Asset Management One Co. Ltd. Acquires 2,050 Shares of Salesforce, Inc. (NYSE:CRM)

Asset Management One Co. Ltd. lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,556 shares of the CRM provider’s stock after purchasing an additional 2,050 shares during the period. Asset Management One Co. Ltd. owned about 0.05% of Salesforce worth $133,449,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its stake 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 acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Stephens Consulting LLC increased 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 worth $33,000 after buying an additional 125 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the second quarter valued at $33,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.4 %

Shares of CRM opened at $293.65 on Monday. Salesforce, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71. The firm has a market cap of $280.73 billion, a price-to-earnings ratio of 51.44, a PEG ratio of 2.64 and a beta of 1.29. The firm has a 50 day moving average price of $273.02 and a 200-day moving average price of $263.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

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. 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 the consensus estimate of $9.22 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CRM shares. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. Citigroup raised their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Bank of America reaffirmed a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Activity

In related news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Salesforce news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the 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 sale, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,303 shares of company stock valued at $42,024,385. 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.