Salesforce, Inc. (NYSE:CRM) Shares Purchased by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 18.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,297 shares of the CRM provider’s stock after purchasing an additional 816 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Salesforce were worth $1,450,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Prentice Wealth Management LLC boosted its position in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares during the period. Fox Hill Wealth Management raised its stake in shares of Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after buying an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Salesforce by 0.4% in the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after buying an additional 38 shares in the last quarter. Finally, CRA Financial Services LLC raised its stake in shares of Salesforce by 3.4% in the 3rd quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after buying an additional 38 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company raised their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Finally, Citigroup raised their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Nine 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now owns 118,514 shares in the company, valued at $34,353,653.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,353,653.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 2,037 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $248.75, for a total value of $506,703.75. Following the transaction, the chief operating officer now owns 1,947 shares in the company, valued at approximately $484,316.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,612 shares of company stock worth $21,429,961. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.6 %

NYSE:CRM traded up $1.83 on Friday, reaching $292.94. The company’s stock had a trading volume of 3,087,902 shares, compared to its average volume of 6,414,292. Salesforce, Inc. has a 1-year low of $193.68 and a 1-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 firm has a market cap of $283.86 billion, a PE ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30. The business’s 50-day moving average price is $266.65 and its two-hundred day moving average price is $263.77.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.55%. Salesforce’s payout ratio is presently 28.78%.

Salesforce 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.