Salesforce, Inc. (NYSE:CRM) Shares Purchased by MBB Public Markets I LLC

MBB Public Markets I LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 2,742.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,929 shares of the CRM provider’s stock after purchasing an additional 66,504 shares during the quarter. MBB Public Markets I LLC’s holdings in Salesforce were worth $17,722,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC raised its position 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 period. Red Tortoise LLC acquired a new position in shares of Salesforce during the first quarter worth about $33,000. Finally, Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.6 %

Salesforce stock opened at $275.67 on Friday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock has a market cap of $263.54 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 2.39 and a beta of 1.29. The company’s 50-day moving average price is $255.12 and its two-hundred day moving average price is $265.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted 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. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $1.63 earnings per share. On average, analysts expect 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. Stockholders of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Friday, September 20th. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Barclays cut their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Citigroup upped their price target on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $307.73.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The disclosure for this sale can be found here. Insiders sold 63,015 shares of company stock valued at $16,174,717 over the last 90 days. 3.20% of the stock is currently 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.