Copperwynd Financial LLC Purchases 599 Shares of Salesforce, Inc. (NYSE:CRM)

Copperwynd Financial LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 23.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,197 shares of the CRM provider’s stock after acquiring an additional 599 shares during the quarter. Copperwynd Financial LLC’s holdings in Salesforce were worth $827,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Doheny Asset Management CA acquired a new position in Salesforce during the second quarter worth $1,799,000. Aviso Wealth Management increased its stake in Salesforce by 10.9% in the 2nd quarter. Aviso Wealth Management now owns 3,075 shares of the CRM provider’s stock valued at $791,000 after buying an additional 302 shares during the last quarter. Ascent Group LLC lifted its position in Salesforce by 15.2% during the 2nd quarter. Ascent Group LLC now owns 19,556 shares of the CRM provider’s stock worth $5,028,000 after buying an additional 2,581 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in shares of Salesforce by 76.1% during the 2nd quarter. Vulcan Value Partners LLC now owns 1,476,111 shares of the CRM provider’s stock worth $379,469,000 after buying an additional 637,710 shares during the last quarter. Finally, Smith Thornton Advisors LLC bought a new position in shares of Salesforce in the 2nd quarter valued at about $386,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. UBS Group increased their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Cowen raised their target price on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Finally, Morgan Stanley lifted their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.03.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’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 sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders sold a total of 72,185 shares of company stock worth $18,708,571 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $276.64 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market cap of $268.06 billion, a price-to-earnings ratio of 49.76, a PEG ratio of 2.39 and a beta of 1.29. The stock has a fifty day moving average price of $256.26 and a 200-day moving average price of $265.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the company posted $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, equities analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 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.