Boston Family Office LLC Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Boston Family Office LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,644 shares of the CRM provider’s stock after purchasing an additional 650 shares during the period. Salesforce makes up 1.7% of Boston Family Office LLC’s investment portfolio, making the stock its 16th largest holding. Boston Family Office LLC’s holdings in Salesforce were worth $25,084,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Swedbank AB bought a new stake in Salesforce during the first quarter valued at approximately $874,748,000. Veritas Asset Management LLP bought a new stake in Salesforce during the third quarter valued at approximately $733,805,000. Massachusetts Financial Services Co. MA grew its position in Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares during the period. AMF Tjanstepension AB grew its position in Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after buying an additional 1,139,472 shares during the period. Finally, KBC Group NV grew its position in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after buying an additional 1,032,068 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the 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 transaction, the insider now directly owns 828 shares in the company, valued at $202,702.68. This represents a 75.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,912,044.90. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,991 shares of company stock worth $43,333,238 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on CRM shares. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. UBS Group upped their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, JMP Securities upped their price target on shares of Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $337.80.

Salesforce Trading Up 1.9 %

NYSE CRM opened at $342.02 on Monday. The company’s 50-day moving average price is $294.61 and its 200-day moving average price is $268.53. 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 stock has a market cap of $326.97 billion, a PE ratio of 59.48, a PEG ratio of 3.10 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86.

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

Salesforce Dividend Announcement

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

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.