Salesforce, Inc. (NYSE:CRM) Shares Bought by Dover Advisors LLC

by · The Cerbat Gem

Dover Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 17.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,449 shares of the CRM provider’s stock after purchasing an additional 972 shares during the period. Dover Advisors LLC’s holdings in Salesforce were worth $1,765,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. lifted its holdings in Salesforce by 186.7% in the 1st 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 last quarter. Piscataqua Savings Bank grew its position in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce in the first quarter valued at $33,000. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth $33,000. 80.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the sale, the insider now directly owns 118,514 shares in the company, valued at approximately $34,181,807.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Brian Millham sold 8,427 shares of Salesforce stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the transaction, the insider now directly owns 118,514 shares in the company, valued at $34,181,807.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,412 shares of company stock valued at $20,212,507 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Down 1.1 %

Shares of CRM traded down $3.33 during trading hours on Tuesday, reaching $288.31. 3,848,536 shares of the stock traded hands, compared to its average volume of 6,463,669. 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 $279.37 billion, a price-to-earnings ratio of 51.95, a PEG ratio of 2.61 and a beta of 1.30. The stock has a fifty day simple moving average of $262.99 and a 200 day simple moving average of $263.55. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM – Get Free Report) last released 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 company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. 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 business posted $1.63 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed 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 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CRM shares. Sanford C. Bernstein boosted their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. TD Cowen upped their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Bank of America reissued a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. Finally, Stifel Nicolaus boosted their price target on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Nine equities research 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. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.74.

Get Our Latest Analysis on CRM

Salesforce Profile

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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.

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