TrinityPoint Wealth LLC Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

TrinityPoint Wealth LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 5.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,934 shares of the CRM provider’s stock after acquiring an additional 424 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Salesforce were worth $2,172,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors increased its stake in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Capital International Investors boosted its holdings in Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Legal & General Group Plc boosted its holdings in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. DA Davidson lifted their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Canaccord Genuity Group upped their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BMO Capital Markets raised their price target on shares of Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Roth Mkm reaffirmed a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $322.51.

Salesforce Stock Down 1.9 %

Shares of NYSE:CRM opened at $325.26 on Monday. The firm has a market capitalization of $310.95 billion, a PE ratio of 56.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $286.61 and its two-hundred day moving average is $266.61.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 2,934 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the sale, the insider now directly owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. This represents a 44.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is currently owned by corporate insiders.

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.