Salesforce, Inc. (NYSE:CRM) Shares Acquired by RPG Investment Advisory LLC

RPG Investment Advisory LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,101 shares of the CRM provider’s stock after purchasing an additional 1,340 shares during the period. Salesforce makes up approximately 1.5% of RPG Investment Advisory LLC’s holdings, making the stock its 27th biggest position. RPG Investment Advisory LLC’s holdings in Salesforce were worth $10,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Souders Financial Advisors acquired a new position in Salesforce in the 1st quarter valued at approximately $226,000. TBH Global Asset Management LLC grew its stake in Salesforce by 25.7% in the 1st quarter. TBH Global Asset Management LLC now owns 2,156 shares of the CRM provider’s stock valued at $649,000 after buying an additional 441 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Salesforce by 10.0% in the 1st quarter. Kingsview Wealth Management LLC now owns 93,204 shares of the CRM provider’s stock valued at $28,071,000 after buying an additional 8,472 shares during the last quarter. Midwest Professional Planners LTD. grew its stake in Salesforce by 17.7% in the 1st quarter. Midwest Professional Planners LTD. now owns 13,413 shares of the CRM provider’s stock valued at $4,040,000 after buying an additional 2,013 shares during the last quarter. Finally, HBK Sorce Advisory LLC grew its position in Salesforce by 41.3% in the 1st quarter. HBK Sorce Advisory LLC now owns 5,251 shares of the CRM provider’s stock worth $1,582,000 after purchasing an additional 1,536 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on CRM shares. Raymond James raised their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Morgan Stanley lifted their target price 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. Finally, Citigroup boosted their price target on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Nine investment 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.37.

Salesforce Stock Performance

NYSE CRM opened at $341.20 on Wednesday. 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 firm’s fifty day moving average price is $279.53 and its two-hundred day moving average price is $264.83. Salesforce, Inc. has a 1 year low of $211.76 and a 1 year high of $348.86. The firm has a market capitalization of $326.19 billion, a P/E ratio of 59.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29.

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

In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. 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 144,373 shares of company stock valued at $41,250,680 over the last ninety days. 3.20% of the stock is currently owned by company 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.