Riverview Capital Advisers LLC Has $1.51 Million Stake in Salesforce, Inc. (NYSE:CRM)

Riverview Capital Advisers LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,852 shares of the CRM provider’s stock after selling 47 shares during the quarter. Riverview Capital Advisers LLC’s holdings in Salesforce were worth $1,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WCG Wealth Advisors LLC boosted its position in shares of Salesforce by 43.9% in the second quarter. WCG Wealth Advisors LLC now owns 16,448 shares of the CRM provider’s stock valued at $4,229,000 after acquiring an additional 5,020 shares during the period. MRP Capital Investments LLC acquired a new stake in shares of Salesforce during the 2nd quarter worth $419,000. LJI Wealth Management LLC bought a new stake in Salesforce during the second quarter worth about $414,000. Venator Management LLC acquired a new stake in Salesforce during the second quarter worth about $643,000. Finally, First Eagle Investment Management LLC increased its holdings in Salesforce by 35.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,624,665 shares of the CRM provider’s stock valued at $674,801,000 after buying an additional 692,493 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Brian Millham sold 4,056 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The disclosure for this sale can be found here. Insiders have sold 66,576 shares of company stock worth $16,957,573 in the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CRM shares. Raymond James lifted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Canaccord Genuity Group upped their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wedbush reiterated an “outperform” rating and issued a $315.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Finally, Robert W. Baird increased their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $305.55.

Salesforce Trading Down 1.1 %

NYSE:CRM opened at $252.42 on Thursday. The firm has a fifty day simple moving average of $253.60 and a two-hundred day simple moving average of $267.01. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a market capitalization of $244.59 billion, a price-to-earnings ratio of 45.40, a PEG ratio of 2.26 and a beta of 1.29. 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) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.63 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

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.