Opal Wealth Advisors LLC Has $267,000 Position in Salesforce, Inc. (NYSE:CRM)

Opal Wealth Advisors LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 19.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 975 shares of the CRM provider’s stock after selling 239 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Salesforce were worth $267,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in shares of Salesforce during the 1st quarter valued at about $33,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the 2nd quarter worth approximately $33,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the topic of several analyst reports. Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Citigroup lifted their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Wedbush boosted their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Finally, Stifel Nicolaus boosted their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Performance

NYSE:CRM opened at $288.31 on Wednesday. The stock has a market capitalization of $279.37 billion, a P/E ratio of 51.85, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a 50 day moving average of $263.98 and a 200-day 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, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during 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 business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insiders Place Their Bets

In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction that occurred 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 directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the sale, the director now owns 1,363 shares in the company, valued at $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, 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 three months, insiders sold 76,412 shares of company stock valued at $20,212,507. Insiders own 3.20% of the company’s stock.

Salesforce Company 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.