RPg Family Wealth Advisory LLC Purchases New Shares in Salesforce, Inc. (NYSE:CRM)

RPg Family Wealth Advisory LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 537 shares of the CRM provider’s stock, valued at approximately $147,000.

Several other large investors have also recently added to or reduced their stakes in CRM. Fisher Asset Management LLC increased its holdings in Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after buying an additional 314,530 shares during the period. Legal & General Group Plc grew its stake in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 purchasing an additional 57,825 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Salesforce by 1.7% during the third 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 purchasing an additional 96,381 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after purchasing an additional 877,495 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 3,528 shares of Salesforce stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total value of $884,081.52. Following the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $29,464,622.79. The trade was a 2.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,510 shares of company stock valued at $42,475,538. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRM. JMP Securities increased their price target on Salesforce from $342.00 to $450.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Robert W. Baird upped their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Finally, TD Cowen lifted their target price on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $339.66.

Salesforce Stock Performance

CRM opened at $338.00 on Wednesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The company has a market cap of $323.13 billion, a price-to-earnings ratio of 59.69, a PEG ratio of 3.07 and a beta of 1.29. 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 company’s 50 day moving average is $298.02 and its 200 day moving average is $269.44.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current 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 given 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 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

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.