Salesforce, Inc. (NYSE:CRM) Shares Acquired by CX Institutional

CX Institutional raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,637 shares of the CRM provider’s stock after acquiring an additional 110 shares during the period. CX Institutional’s holdings in Salesforce were worth $1,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. XN LP lifted its stake in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after acquiring an additional 90,616 shares during the period. Atomi Financial Group Inc. lifted its stake in Salesforce by 27.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after acquiring an additional 2,589 shares during the period. M&G Plc acquired a new position in shares of Salesforce in the 1st quarter valued at $2,178,000. First Foundation Advisors lifted its stake in shares of Salesforce by 38.0% in the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after purchasing an additional 228 shares during the period. Finally, St. Johns Investment Management Company LLC lifted its stake in shares of Salesforce by 4.1% in 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. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CRM shares. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Robert W. Baird boosted their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets upped their price objective on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. This 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 this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,412 shares of company stock valued at $20,212,507 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 1.1 %

Shares of CRM stock opened at $288.31 on Wednesday. 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 cap of $279.37 billion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a 50-day moving average of $263.98 and a two-hundred day moving average of $263.46. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last announced its 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 company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. On average, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

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

About Salesforce

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.