Ariadne Wealth Management LP Purchases Shares of 883 Salesforce, Inc. (NYSE:CRM)

Ariadne Wealth Management LP acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 883 shares of the CRM provider’s stock, valued at approximately $227,000.

A number of other institutional investors have also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. boosted its stake in Salesforce by 186.7% during the first 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 raised its holdings in shares of Salesforce by 2,400.0% during the 2nd 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 raised its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce during the 1st quarter valued at approximately $33,000. Finally, Stephens Consulting LLC grew its holdings 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 purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, 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 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 document filed with the SEC, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated 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 owns 6,431 shares in the company, valued at $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,985 shares of company stock worth $17,632,363. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.1 %

CRM opened at $273.68 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $265.20 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 2.39 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a fifty day moving average price of $256.65 and a 200-day moving average price of $264.81.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 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 business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Evercore ISI reiterated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. TD Cowen increased their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Citigroup upped their price objective on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Oppenheimer raised their price objective on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley boosted their target price on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $308.03.

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.