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

Sfmg LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 24.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,264 shares of the CRM provider’s stock after purchasing an additional 4,635 shares during the period. Salesforce accounts for 0.5% of Sfmg LLC’s holdings, making the stock its 24th biggest holding. Sfmg LLC’s holdings in Salesforce were worth $5,981,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capital International Investors raised its stake in Salesforce by 76.4% during 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 in the last quarter. Capital Research Global Investors raised its stake in shares of Salesforce by 26.9% during 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 in the last quarter. GQG Partners LLC bought a new stake in shares of Salesforce during the first quarter valued at about $910,220,000. Swedbank AB acquired a new stake in Salesforce in the first quarter worth about $874,748,000. Finally, Coatue Management LLC bought a new position in Salesforce in the 4th quarter valued at about $564,188,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total value of $249,422.76. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now directly owns 828 shares in the company, valued at approximately $202,702.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total transaction of $249,422.76. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. The disclosure for this sale can be found here. Insiders sold 70,633 shares of company stock valued at $18,100,349 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 2.4 %

Salesforce stock opened at $270.44 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company’s fifty day simple moving average is $254.66 and its 200-day simple moving average is $265.66. The stock has a market cap of $262.06 billion, a P/E ratio of 48.64, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRM shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Jefferies Financial Group cut their target price on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. BMO Capital Markets increased their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Wednesday, August 28th. Finally, Barclays decreased their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $307.73.

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.