Salesforce, Inc. (NYSE:CRM) Shares Purchased by Stonebrook Private Inc.

by · The Markets Daily

Stonebrook Private Inc. grew its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,645 shares of the CRM provider’s stock after purchasing an additional 152 shares during the quarter. Stonebrook Private Inc.’s holdings in Salesforce were worth $1,545,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Piscataqua Savings Bank raised 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 acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC grew its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce during the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. boosted its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.9 %

Shares of CRM stock opened at $342.12 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a market cap of $327.07 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $294.61 and its two-hundred day moving average is $268.66.

Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. 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. Investors of record on Wednesday, September 18th were paid 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 0.47%. Salesforce’s payout ratio is 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,991 shares of company stock valued at $43,333,238 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wedbush upped their price target on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. TD Cowen upped their target price on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday. Oppenheimer reissued an “outperform” rating and issued a $385.00 price target (up previously from $330.00) on shares of Salesforce in a research note on Thursday. Cfra set a $343.00 price objective on shares of Salesforce in a research note on Thursday, October 17th. Finally, Citigroup raised their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $336.37.

Check Out Our Latest Research Report on Salesforce

About Salesforce

(Free Report)

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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