CX Institutional Purchases 110 Shares of Salesforce, Inc. (NYSE:CRM)

CX Institutional increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,637 shares of the CRM provider’s stock after acquiring an additional 110 shares during the quarter. CX Institutional’s holdings in Salesforce were worth $1,543,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. XN LP grew its stake in Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after acquiring an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. grew its stake in Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after acquiring an additional 2,589 shares in the last quarter. M&G Plc purchased a new position in Salesforce during the first quarter valued at $2,178,000. First Foundation Advisors grew its stake in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after acquiring an additional 228 shares in the last quarter. Finally, St. Johns Investment Management Company LLC grew its stake in Salesforce by 4.1% during the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after acquiring an additional 228 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Wednesday, August 28th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Finally, Roth Mkm reissued a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.74.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,412 shares of company stock valued at $20,212,507 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.1 %

NYSE:CRM opened at $288.31 on Wednesday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $279.37 billion, a P/E ratio of 51.85, a P/E/G ratio of 2.61 and a beta of 1.30. The firm has a 50-day simple moving average of $263.98 and a 200-day simple moving average of $263.46.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

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.