Salesforce, Inc. (NYSE:CRM) Shares Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors boosted its position in Salesforce, Inc. (NYSE:CRM) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,838 shares of the CRM provider’s stock after purchasing an additional 3,598 shares during the period. Salesforce comprises approximately 0.6% of Arkadios Wealth Advisors’ holdings, making the stock its 27th largest position. Arkadios Wealth Advisors’ holdings in Salesforce were worth $10,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Salesforce during the 1st quarter worth approximately $910,220,000. Swedbank AB acquired a new stake in shares of Salesforce in the 1st quarter worth approximately $874,748,000. Massachusetts Financial Services Co. MA increased its stake in Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB raised its holdings in Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after purchasing an additional 1,139,472 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CRM. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Loop Capital restated a “hold” rating and set a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Stifel Nicolaus upped their price target on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. TD Cowen raised their price objective on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Nine 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $312.51.

Salesforce Stock Up 1.3 %

Salesforce stock traded up $3.70 during midday trading on Friday, hitting $290.46. 3,351,560 shares of the company were exchanged, compared to its average volume of 6,334,725. 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 fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company’s fifty day moving average price is $269.73 and its 200-day moving average price is $263.32. The company has a market cap of $281.46 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 969 shares of Salesforce stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,251,239.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,781 shares of company stock worth $23,696,593. 3.20% of the stock is currently owned by corporate 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.