Fairscale Capital LLC Acquires Shares of 4,421 Salesforce, Inc. (NYSE:CRM)

Fairscale Capital LLC bought a new position in Salesforce, Inc. (NYSE:CRM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,421 shares of the CRM provider’s stock, valued at approximately $1,132,000. Salesforce accounts for 1.0% of Fairscale Capital LLC’s holdings, making the stock its 24th largest holding.

A number of other large investors have also modified their holdings of CRM. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% in 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 lifted its stake in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC acquired a new stake in Salesforce during the 1st quarter valued at approximately $33,000. Finally, Stephens Consulting LLC increased its holdings in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Morgan Stanley increased their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Bank of America reissued a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research report on Friday, September 6th. Barclays reduced their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, UBS Group lifted their price target on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $306.00.

Salesforce Trading Up 0.3 %

Shares of CRM stock opened at $266.80 on Friday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a market capitalization of $258.53 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The stock has a fifty day moving average of $254.14 and a two-hundred day moving average 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.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business 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 dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s dividend payout ratio is presently 28.78%.

Insider Buying and Selling

In other news, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the transaction, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold a total of 66,576 shares of company stock valued at $16,957,573 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company 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.