Lindbrook Capital LLC Has $1.58 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Lindbrook Capital LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 5,782 shares of the CRM provider’s stock after buying an additional 167 shares during the period. Lindbrook Capital LLC’s holdings in Salesforce were worth $1,582,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. AIA Group Ltd boosted its position in Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares during the last quarter. XN LP lifted its stake in shares of 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 acquiring an additional 90,616 shares during the period. Atomi Financial Group Inc. lifted its stake in shares of Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after acquiring an additional 2,589 shares during the period. Harvest Portfolios Group Inc. boosted its holdings in Salesforce by 13.6% in 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 during the last quarter. Finally, M&G Plc acquired a new stake in Salesforce in the first quarter worth about $2,178,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

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

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued 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 0.50%. Salesforce’s payout ratio is presently 27.83%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRM. Royal Bank of Canada restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Morgan Stanley increased their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Phillip Securities reiterated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Finally, BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Nine 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $29,932,595.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $29,932,595.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,573 shares of company stock valued at $42,319,874. Insiders own 3.20% of the company’s stock.

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.