Salesforce, Inc. (NYSE:CRM) Shares Acquired by Profund Advisors LLC

Profund Advisors LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 41,754 shares of the CRM provider’s stock after purchasing an additional 2,053 shares during the period. Profund Advisors LLC’s holdings in Salesforce were worth $10,735,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors increased its position in Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Capital Research Global Investors increased its holdings in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. GQG Partners LLC purchased a new stake in shares of Salesforce during the first quarter worth approximately $910,220,000. Swedbank AB purchased a new stake in shares of Salesforce during the first quarter worth approximately $874,748,000. Finally, Coatue Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $564,188,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred 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 owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred 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 in the company, valued at $30,223,020.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,576 shares of company stock worth $16,957,573. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 0.3 %

CRM stock opened at $266.80 on Friday. The company has a 50 day moving average price of $254.14 and a two-hundred day moving average price of $266.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $258.53 billion, a P/E ratio of 47.99, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 the consensus estimate of $9.22 billion. During the same quarter in the previous year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. Salesforce’s dividend payout ratio is presently 28.78%.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Thursday. Canaccord Genuity Group boosted their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Friday. Finally, JMP Securities restated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $306.00.

About Salesforce

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.