Brookstone Capital Management Purchases 4,642 Shares of Salesforce, Inc. (NYSE:CRM)

Brookstone Capital Management increased its position in Salesforce, Inc. (NYSE:CRM) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,515 shares of the CRM provider’s stock after purchasing an additional 4,642 shares during the quarter. Brookstone Capital Management’s holdings in Salesforce were worth $15,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Regal Investment Advisors LLC boosted its stake in Salesforce by 3.3% in the fourth quarter. Regal Investment Advisors LLC now owns 2,246 shares of the CRM provider’s stock valued at $591,000 after acquiring an additional 71 shares during the last quarter. Visionary Wealth Advisors increased its holdings in Salesforce by 3.2% in the fourth quarter. Visionary Wealth Advisors now owns 3,280 shares of the CRM provider’s stock valued at $863,000 after purchasing an additional 102 shares during the last quarter. MGO One Seven LLC boosted its holdings in Salesforce by 15.9% during the fourth quarter. MGO One Seven LLC now owns 12,849 shares of the CRM provider’s stock worth $3,381,000 after buying an additional 1,764 shares during the last quarter. Oribel Capital Management LP bought a new stake in shares of Salesforce in the 4th quarter valued at about $49,786,000. Finally, Ethic Inc. raised its position in shares of Salesforce by 7.6% in the 4th quarter. Ethic Inc. now owns 77,619 shares of the CRM provider’s stock valued at $20,425,000 after acquiring an additional 5,480 shares during the period. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Wells Fargo & Company raised their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. TD Cowen boosted their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Trading Up 2.5 %

Shares of NYSE:CRM opened at $291.57 on Wednesday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The business has a 50 day moving average of $259.05 and a 200-day moving average of $264.06. 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 stock has a market cap of $282.53 billion, a PE ratio of 52.44, a P/E/G ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results 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 analyst estimates of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Activity at Salesforce

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock valued at $20,071,723 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.