Salesforce, Inc. (NYSE:CRM) Shares Purchased by Regatta Capital Group LLC

Regatta Capital Group LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,453 shares of the CRM provider’s stock after purchasing an additional 204 shares during the period. Regatta Capital Group LLC’s holdings in Salesforce were worth $1,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XN LP grew its position in Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after buying an additional 90,616 shares during the period. Atomi Financial Group Inc. increased its stake in shares of Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after purchasing an additional 2,589 shares in the last quarter. M&G Plc purchased a new position in shares of Salesforce in the 1st quarter valued at about $2,178,000. First Foundation Advisors boosted its position in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares in the last quarter. Finally, St. Johns Investment Management Company LLC boosted its position in Salesforce by 4.1% during the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock worth $1,757,000 after purchasing an additional 228 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRM. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. JMP Securities restated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Raymond James upped their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Finally, UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’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 directly owns 1,363 shares in the company, valued at approximately $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,412 shares of company stock worth $20,212,507. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $288.31 on Wednesday. The stock has a market capitalization of $279.37 billion, a P/E ratio of 51.85, a PEG ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a 50 day moving average price of $263.98 and a 200 day moving average price of $263.46.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

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.