Glen Eagle Advisors LLC Buys 1,037 Shares of Salesforce, Inc. (NYSE:CRM)

Glen Eagle Advisors LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 28.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,683 shares of the CRM provider’s stock after acquiring an additional 1,037 shares during the period. Glen Eagle Advisors LLC’s holdings in Salesforce were worth $1,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after buying an additional 96,381 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, insider Miguel Milano sold 719 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % 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 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders sold 140,982 shares of company stock valued at $41,591,457 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $361.99 on Friday. The business has a 50 day moving average of $308.26 and a 200-day moving average of $272.43. The firm has a market cap of $346.06 billion, a PE ratio of 59.54, a P/E/G ratio of 3.33 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.44%. Salesforce’s payout ratio is 26.32%.

Wall Street Analyst Weigh In

CRM has been the subject of several analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Needham & Company LLC upped their price target on Salesforce from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup raised their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Sanford C. Bernstein upped their target price on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $372.86.

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.