Salesforce, Inc. (NYSE:CRM) Shares Purchased by Sendero Wealth Management LLC

Sendero Wealth Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 19.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,667 shares of the CRM provider’s stock after buying an additional 3,738 shares during the quarter. Salesforce makes up 1.0% of Sendero Wealth Management LLC’s holdings, making the stock its 25th biggest holding. Sendero Wealth Management LLC’s holdings in Salesforce were worth $6,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quotient Wealth Partners LLC grew its stake in shares of Salesforce by 1.9% during the third quarter. Quotient Wealth Partners LLC now owns 4,608 shares of the CRM provider’s stock valued at $1,261,000 after acquiring an additional 88 shares in the last quarter. Northwest Bank & Trust Co boosted its holdings in Salesforce by 0.8% in the third quarter. Northwest Bank & Trust Co now owns 5,594 shares of the CRM provider’s stock valued at $1,531,000 after purchasing an additional 44 shares during the last quarter. Modus Advisors LLC grew its stake in Salesforce by 2.1% during the 3rd quarter. Modus Advisors LLC now owns 14,347 shares of the CRM provider’s stock valued at $3,927,000 after purchasing an additional 290 shares in the last quarter. Guardian Asset Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at approximately $408,000. Finally, Enterprise Bank & Trust Co boosted its stake in shares of Salesforce by 0.4% during the 3rd quarter. Enterprise Bank & Trust Co now owns 11,332 shares of the CRM provider’s stock valued at $3,102,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction 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 sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the firm’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 $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,612 shares of company stock valued at $21,283,087. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. DA Davidson raised their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Citigroup raised their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Wedbush boosted their target price on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Trading Down 0.2 %

Shares of NYSE CRM traded down $0.47 during mid-day trading on Thursday, hitting $287.45. The company’s stock had a trading volume of 1,382,930 shares, compared to its average volume of 6,492,856. The company’s fifty day simple moving average is $260.30 and its 200-day simple moving average is $264.11. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The stock has a market cap of $278.54 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

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.