Perfromance Wealth Partners LLC Raises Position in Salesforce, Inc. (NYSE:CRM)

Perfromance Wealth Partners LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 52.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,345 shares of the CRM provider’s stock after purchasing an additional 2,521 shares during the period. Perfromance Wealth Partners LLC’s holdings in Salesforce were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Octavia Wealth Advisors LLC lifted its stake in shares of Salesforce by 3.7% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 4,196 shares of the CRM provider’s stock valued at $1,150,000 after buying an additional 148 shares in the last quarter. First Affirmative Financial Network boosted its holdings in shares of Salesforce by 23.2% in the third quarter. First Affirmative Financial Network now owns 2,799 shares of the CRM provider’s stock worth $766,000 after acquiring an additional 527 shares during the period. RFG Holdings Inc. grew its position in shares of Salesforce by 15.3% in the third quarter. RFG Holdings Inc. now owns 2,338 shares of the CRM provider’s stock valued at $640,000 after purchasing an additional 310 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Salesforce by 2.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 79,256 shares of the CRM provider’s stock valued at $21,693,000 after purchasing an additional 1,695 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Salesforce by 71.4% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,121 shares of the CRM provider’s stock worth $5,513,000 after purchasing an additional 8,385 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 0.7 %

CRM traded down $2.07 on Friday, hitting $288.10. The company had a trading volume of 3,597,035 shares, compared to its average volume of 6,491,262. The stock has a fifty day simple moving average of $261.93 and a 200-day simple moving average of $264.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $275.42 billion, a P/E ratio of 50.10, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $1.63 EPS. As a group, equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,612 shares of company stock valued at $21,283,087. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CRM shares. Citigroup increased their price target on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Stifel Nicolaus boosted their price target on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. TD Cowen lifted their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Roth Mkm restated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Finally, Loop Capital reiterated a “hold” rating and set a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Nine investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

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.