Salesforce, Inc. (NYSE:CRM) Shares Purchased by WESPAC Advisors SoCal LLC

WESPAC Advisors SoCal LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,657 shares of the CRM provider’s stock after purchasing an additional 290 shares during the quarter. WESPAC Advisors SoCal LLC’s holdings in Salesforce were worth $800,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CRM. Ancora Advisors LLC raised its stake in Salesforce by 22.1% during the 3rd quarter. Ancora Advisors LLC now owns 1,287 shares of the CRM provider’s stock valued at $261,000 after acquiring an additional 233 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in shares of Salesforce by 41.4% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 92,811 shares of the CRM provider’s stock worth $18,820,000 after buying an additional 27,174 shares in the last quarter. United Services Automobile Association raised its stake in shares of Salesforce by 15.0% during the 3rd quarter. United Services Automobile Association now owns 26,459 shares of the CRM provider’s stock worth $5,365,000 after buying an additional 3,460 shares in the last quarter. Hodges Capital Management Inc. purchased a new position in shares of Salesforce during the 3rd quarter worth approximately $203,000. Finally, Stansberry Asset Management LLC raised its stake in shares of Salesforce by 18.4% during the 3rd quarter. Stansberry Asset Management LLC now owns 16,456 shares of the CRM provider’s stock worth $3,337,000 after buying an additional 2,558 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director G Mason Morfit purchased 428,000 shares of the stock in a transaction on Monday, June 3rd. The shares were purchased at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, Director G Mason Morfit bought 428,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were bought at an average price of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the acquisition, the director now owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 509,952 shares of company stock worth $139,786,753. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM traded down $0.96 on Monday, hitting $256.14. The company had a trading volume of 5,870,518 shares, compared to its average volume of 6,977,129. The company’s fifty day moving average price is $259.79 and its 200 day moving average price is $276.47. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. 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 market cap of $248.20 billion, a price-to-earnings ratio of 46.08, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th 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 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 7.19%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. Deutsche Bank Aktiengesellschaft cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. BMO Capital Markets cut their target price on Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Stifel Nicolaus cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Wolfe Research reissued an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Finally, TD Cowen lowered their price target on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.79.

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.