Sheaff Brock Investment Advisors LLC Acquires 615 Shares of Salesforce, Inc. (NYSE:CRM)

Sheaff Brock Investment Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 26,183 shares of the CRM provider’s stock after buying an additional 615 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Salesforce were worth $7,166,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Piscataqua Savings Bank raised its position in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Stephens Consulting LLC lifted its holdings in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRM. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. TD Cowen raised their price objective on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Citigroup upped their price objective on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Phillip Securities reissued an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Finally, Bank of America raised their target price on shares of Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $322.51.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,373 shares of company stock valued at $41,250,680. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $328.00 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $313.57 billion, a PE ratio of 57.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. The firm’s 50 day simple moving average is $283.28 and its 200-day simple moving average is $265.84. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86.

Salesforce (NYSE:CRM) last issued 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 return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

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 0.49%. 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.