Salesforce, Inc. (NYSE:CRM) Shares Purchased by Marietta Wealth Management LLC

Marietta Wealth Management LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,271 shares of the CRM provider’s stock after purchasing an additional 1,076 shares during the period. Marietta Wealth Management LLC’s holdings in Salesforce were worth $6,643,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares in the last quarter. Capital Research Global Investors grew its stake in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Capital International Investors increased its holdings in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Legal & General Group Plc raised its stake in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Raymond James upped their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Stifel Nicolaus lifted their price target on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Robert W. Baird increased their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, JMP Securities reissued a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.66.

Salesforce Trading Down 1.0 %

Shares of NYSE:CRM opened at $288.24 on Wednesday. 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 market capitalization of $279.30 billion, a price-to-earnings ratio of 51.84, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a 50 day moving average price of $268.12 and a 200 day moving average price of $263.09.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 business had revenue of $9.33 billion during the quarter, compared to analyst estimates 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 period last year, the company posted $1.63 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 0.56%. Salesforce’s payout ratio is presently 28.78%.

Insider Buying and Selling at Salesforce

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares in the company, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated 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 of the company’s stock, valued at $34,353,653.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares of the company’s stock, valued at $376,624.16. 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 ninety days, insiders sold 85,502 shares of company stock valued at $23,045,186. 3.20% of the stock is currently owned by corporate insiders.

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.