NorthRock Partners LLC Has $3.17 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

NorthRock Partners LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 26.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,583 shares of the CRM provider’s stock after purchasing an additional 2,403 shares during the quarter. NorthRock Partners LLC’s holdings in Salesforce were worth $3,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank increased its position in shares of 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 in the last quarter. Clear Investment Research LLC raised its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the period. Stephens Consulting LLC grew its stake in Salesforce by 3,125.0% in 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 during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the second quarter worth about $33,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRM shares. Roth Mkm reiterated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Canaccord Genuity Group raised their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $330.00 target price (up from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. Finally, Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. 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, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $313.37.

Salesforce Stock Performance

CRM stock traded down $0.93 during trading hours on Tuesday, hitting $297.08. 536,759 shares of the stock were exchanged, compared to its average volume of 6,241,766. Salesforce, Inc. has a 12 month low of $204.69 and a 12 month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $284.01 billion, a P/E ratio of 51.81, a P/E/G ratio of 2.67 and a beta of 1.29. The company has a 50-day simple moving average of $273.68 and a two-hundred day simple moving average of $263.36.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. During the same period last year, the firm earned $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts forecast that Salesforce, Inc. will post 7.55 earnings per share 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 $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.54%. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,003 shares of company stock worth $41,494,084. 3.20% of the stock is currently owned by company 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.