Salesforce, Inc. (NYSE:CRM) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 274,447 shares of the CRM provider’s stock after purchasing an additional 23,800 shares during the period. Salesforce accounts for 0.6% of Forsta AP Fonden’s investment portfolio, making the stock its 25th biggest holding. Forsta AP Fonden’s holdings in Salesforce were worth $75,119,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC increased its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Red Tortoise LLC bought a new position in Salesforce in the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC boosted its stake in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of CRM traded up $3.70 during trading hours on Friday, hitting $290.46. The company’s stock had a trading volume of 3,351,560 shares, compared to its average volume of 6,334,725. The business has a 50 day simple moving average of $269.73 and a two-hundred day simple moving average of $263.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a market cap of $281.46 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 2.61 and a beta of 1.30.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s payout ratio is presently 28.78%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRM. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, DA Davidson lifted their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Nine investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.51.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total value of $1,080,576.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $30,251,239.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,251,239.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,781 shares of company stock worth $23,696,593 over the last three months. 3.20% of the stock is owned by 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.