Salesforce, Inc. (NYSE:CRM) Shares Acquired by SlateStone Wealth LLC

SlateStone Wealth LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,673 shares of the CRM provider’s stock after buying an additional 155 shares during the quarter. SlateStone Wealth LLC’s holdings in Salesforce were worth $430,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRM. Signature Resources Capital Management LLC acquired a new position in Salesforce in the fourth quarter worth $26,000. Ruedi Wealth Management Inc. grew its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank grew its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Red Tortoise LLC acquired a new stake in Salesforce during the first quarter worth about $33,000. Finally, Creekmur Asset Management LLC acquired a new position in Salesforce in the fourth quarter valued at approximately $35,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the transaction, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the sale, the chief executive officer now owns 12,407,327 shares of the company’s stock, valued at $2,688,171,467.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,764 shares of company stock worth $30,102,367. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.5 %

Salesforce stock opened at $265.29 on Tuesday. The business’s 50-day simple moving average is $252.79 and its 200-day simple moving average is $271.82. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The firm has a market capitalization of $257.07 billion, a PE ratio of 47.71, a PEG ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the business posted $1.15 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is 28.78%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 target price on shares of Salesforce in a research note on Friday, May 24th. Evercore ISI restated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday. Oppenheimer cut their price target on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. reduced their price objective on Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.38.

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.