Salesforce, Inc. (NYSE:CRM) Shares Bought by Catalina Capital Group LLC

Catalina Capital Group LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 29.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,042 shares of the CRM provider’s stock after acquiring an additional 689 shares during the quarter. Catalina Capital Group LLC’s holdings in Salesforce were worth $833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nvwm LLC increased its position in shares of Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after buying an additional 36 shares in the last quarter. Prentice Wealth Management LLC grew its stake in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 37 shares during the period. Private Wealth Management Group LLC increased its holdings in shares of Salesforce by 11.6% in the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after acquiring an additional 37 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in shares of Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the period. Finally, Fulton Bank N.A. lifted its holdings in shares of Salesforce by 0.4% during the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 38 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the topic of several research analyst reports. Bank of America restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. Sanford C. Bernstein increased their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Roth Mkm restated a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Finally, Morgan Stanley boosted their target price on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $29,932,595.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at $1,888,236.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,003 shares of company stock valued at $41,494,084 over the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

NYSE:CRM opened at $297.53 on Wednesday. The stock’s 50-day moving average is $274.34 and its 200-day moving average is $263.56. The stock has a market cap of $284.44 billion, a P/E ratio of 51.74, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $204.69 and a 1-year 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.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is 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.