Meadow Creek Wealth Advisors LLC Has $831,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Meadow Creek Wealth Advisors LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,036 shares of the CRM provider’s stock after selling 62 shares during the period. Meadow Creek Wealth Advisors LLC’s holdings in Salesforce were worth $831,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. lifted its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its holdings in shares of 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 in the last quarter. Red Tortoise LLC bought a new stake in shares of Salesforce in the first quarter valued at about $33,000. Clear Investment Research LLC raised 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 worth $28,000 after acquiring an additional 98 shares in the last quarter. Finally, Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 0.1 %

Shares of CRM opened at $287.90 on Wednesday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock has a market capitalization of $278.98 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a fifty day moving average of $268.12 and a 200-day moving average of $263.09.

Salesforce (NYSE:CRM) last announced its quarterly 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%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.56%. Salesforce’s payout ratio is 28.78%.

Insider Activity at Salesforce

In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,502 shares of company stock worth $23,045,186 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CRM shares. Citigroup upped their target price on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Bank of America reiterated a “buy” rating and set a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Loop Capital reissued a “hold” rating and set a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Nine 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.