Twin Peaks Wealth Advisors LLC Acquires 97 Shares of Salesforce, Inc. (NYSE:CRM)

Twin Peaks Wealth Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,857 shares of the CRM provider’s stock after buying an additional 97 shares during the period. Twin Peaks Wealth Advisors LLC’s holdings in Salesforce were worth $1,329,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Valley National Advisers Inc. grew its position in shares of Salesforce by 13.6% during the 1st quarter. Valley National Advisers Inc. now owns 2,798 shares of the CRM provider’s stock valued at $842,000 after purchasing an additional 335 shares in the last quarter. Wealthstar Advisors LLC grew its position in shares of Salesforce by 6.6% during the 1st quarter. Wealthstar Advisors LLC now owns 1,192 shares of the CRM provider’s stock valued at $359,000 after purchasing an additional 74 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Salesforce by 9.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 20,704 shares of the CRM provider’s stock valued at $6,236,000 after purchasing an additional 1,836 shares in the last quarter. Accel Wealth Management grew its position in shares of Salesforce by 2.8% during the 1st quarter. Accel Wealth Management now owns 1,857 shares of the CRM provider’s stock valued at $559,000 after purchasing an additional 50 shares in the last quarter. Finally, RBA Wealth Management LLC purchased a new position in Salesforce in the first quarter worth $207,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.0 %

Shares of CRM stock traded up $0.11 during trading hours on Wednesday, hitting $299.00. 347,666 shares of the company were exchanged, compared to its average volume of 6,284,689. The firm has a market cap of $285.84 billion, a PE ratio of 51.99, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $198.66 and a 1 year high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $271.04 and a 200 day moving average of $262.78.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Analyst Ratings Changes

Several brokerages recently issued reports on CRM. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Morgan Stanley upped their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Roth Mkm restated a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Finally, DA Davidson upped their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $313.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the 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 owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Insiders sold 83,581 shares of company stock valued at $22,616,017 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.