812 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Source Financial Advisors LLC

by · The Cerbat Gem

Source Financial Advisors LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 812 shares of the CRM provider’s stock, valued at approximately $222,000.

A number of other large investors also recently made changes to their positions in CRM. AIA Group Ltd grew its stake in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares in the last quarter. XN LP increased its holdings in Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after buying an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after buying an additional 2,589 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in Salesforce by 13.6% during the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after acquiring an additional 10,656 shares in the last quarter. Finally, M&G Plc acquired a new stake in Salesforce in the first quarter valued at approximately $2,178,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. Canaccord Genuity Group raised their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Get Our Latest Stock Report on CRM

Salesforce Stock Performance

NYSE:CRM opened at $321.87 on Friday. The stock has a market capitalization of $307.71 billion, a P/E ratio of 55.98, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $208.84 and a 1 year high of $322.81. The firm has a 50 day moving average of $277.76 and a 200-day moving average of $264.52. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 60,522 shares of Salesforce 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 disclosure for this sale can be found here. Insiders sold a total of 148,573 shares of company stock valued at $42,319,874 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Profile

(Free Report)

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.

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