Salesforce, Inc. (NYSE:CRM) Shares Acquired by Bell Bank

Bell Bank increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,661 shares of the CRM provider’s stock after acquiring an additional 173 shares during the quarter. Bell Bank’s holdings in Salesforce were worth $2,371,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CRM. Umpqua Bank grew its position in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares during the period. Nvwm LLC raised its stake 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 acquiring an additional 36 shares during the period. Prentice Wealth Management LLC lifted its position in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares in the last quarter. Private Wealth Management Group LLC boosted its stake 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 valued at $98,000 after purchasing an additional 37 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday. Roth Mkm reaffirmed a “buy” rating and set a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Jefferies Financial Group raised their target price on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. 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. Finally, JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.23.

Salesforce Price Performance

Shares of NYSE:CRM opened at $341.72 on Thursday. The firm has a market cap of $326.68 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. 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 business has a fifty day simple moving average of $281.40 and a 200 day simple moving average of $265.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business earned $1.63 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. 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 accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,373 shares of company stock worth $41,250,680. Corporate insiders own 3.20% of the company’s stock.

Salesforce 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.