FLC Capital Advisors Has $931,000 Position in Salesforce, Inc. (NYSE:CRM)

FLC Capital Advisors increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,400 shares of the CRM provider’s stock after purchasing an additional 88 shares during the quarter. FLC Capital Advisors’ holdings in Salesforce were worth $931,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bfsg LLC raised its position in Salesforce by 4.7% in the third quarter. Bfsg LLC now owns 4,054 shares of the CRM provider’s stock valued at $1,110,000 after purchasing an additional 183 shares during the last quarter. SPC Financial Inc. increased its stake in shares of Salesforce by 3.7% in the third quarter. SPC Financial Inc. now owns 1,995 shares of the CRM provider’s stock valued at $546,000 after buying an additional 71 shares during the period. Annapolis Financial Services LLC raised its holdings in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Alliance Wealth Advisors LLC boosted its position in Salesforce by 9.5% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 1,927 shares of the CRM provider’s stock worth $527,000 after buying an additional 167 shares during the period. Finally, AAFMAA Wealth Management & Trust LLC boosted its position in Salesforce by 2.3% during the 3rd quarter. AAFMAA Wealth Management & Trust LLC now owns 8,119 shares of the CRM provider’s stock worth $2,222,000 after buying an additional 186 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The stock was 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 approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’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 sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. 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 90 days, insiders have sold 80,612 shares of company stock valued at $21,429,961. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. FBN Securities raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Oppenheimer raised their price objective on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, TD Cowen upped their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Up 0.9 %

Salesforce stock opened at $290.89 on Thursday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week 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 firm’s 50-day simple moving average is $265.00 and its 200 day simple moving average is $263.65. The stock has a market cap of $281.87 billion, a PE ratio of 52.32, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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 analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.63 EPS. Research analysts predict that Salesforce, Inc. will post 7.55 EPS 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 dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. 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.