Financial Perspectives Inc Acquires 148 Shares of Salesforce, Inc. (NYSE:CRM)

Financial Perspectives Inc boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 197.3% in the second quarter, Holdings Channel.com reports. The fund owned 223 shares of the CRM provider’s stock after acquiring an additional 148 shares during the quarter. Financial Perspectives Inc’s holdings in Salesforce were worth $57,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRM. Ruedi Wealth Management Inc. grew its holdings in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC grew its stake in Salesforce by 816.7% in the 2nd 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. Red Tortoise LLC purchased a new position in shares of Salesforce during the first quarter worth approximately $33,000. Finally, Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several research analyst reports. Citigroup increased their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. TD Cowen increased their price target on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Macquarie dropped their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Finally, Robert W. Baird boosted their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $305.55.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 413 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 transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Oscar Munoz acquired 2,051 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were purchased at an average price of $243.69 per share, with a total value of $499,808.19. Following the completion of the transaction, the director now owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 62,376 shares of company stock valued at $15,878,005. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 0.5 %

NYSE CRM opened at $254.57 on Monday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. 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 business has a fifty day moving average price of $253.56 and a 200 day moving average price of $267.91. The company has a market cap of $246.68 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued 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 business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.