Oak Harbor Wealth Partners LLC Purchases 424 Shares of Salesforce, Inc. (NYSE:CRM)

Oak Harbor Wealth Partners LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,327 shares of the CRM provider’s stock after purchasing an additional 424 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Salesforce were worth $2,553,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% during 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 raised 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 worth $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter worth $33,000. Finally, Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of CRM opened at $331.56 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The company has a market cap of $316.97 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. 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 fifty day moving average of $283.28 and a 200-day moving average of $265.84.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRM. Loop Capital increased their price objective on shares of Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price target on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $320.23.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now owns 3,716 shares in the company, valued at approximately $977,122.20. The trade was a 44.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is owned by insiders.

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.