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

Thrive Wealth Management LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,686 shares of the CRM provider’s stock after buying an additional 476 shares during the quarter. Salesforce accounts for about 0.5% of Thrive Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Thrive Wealth Management LLC’s holdings in Salesforce were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce during the fourth quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce in the 4th quarter valued at $31,000. Pacifica Partners Inc. boosted its position in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $34,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Robert W. Baird decreased their price objective on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Wolfe Research reissued an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. Evercore ISI lowered their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Thursday, May 30th. Finally, Stifel Nicolaus lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Insiders Place Their Bets

In related news, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the sale, the chief executive officer now owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The disclosure for this sale can be found here. Insiders sold 541,787 shares of company stock worth $149,773,683 over the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.4 %

CRM stock traded up $3.63 during mid-day trading on Friday, reaching $256.48. The company had a trading volume of 1,319,817 shares, compared to its average volume of 6,894,933. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a 50 day simple moving average of $260.43 and a two-hundred day simple moving average of $276.33. The company has a market capitalization of $248.53 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 2.13 and a beta of 1.25. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $1.15 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 7.19%.

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.