SevenBridge Financial Group LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

SevenBridge Financial Group LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 29.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,518 shares of the CRM provider’s stock after purchasing an additional 344 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Salesforce were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Prime Capital Investment Advisors LLC boosted its stake in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC raised its holdings in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. AIA Group Ltd boosted its position in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the last quarter. Harvest Portfolios Group Inc. grew its holdings in shares of Salesforce by 13.6% in the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after purchasing an additional 10,656 shares in the last quarter. Finally, XN LP increased its position in Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,991 shares of company stock valued at $43,333,238. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on CRM shares. Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Friday, September 20th. DA Davidson upped their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.37.

Salesforce Price Performance

Shares of CRM opened at $342.02 on Friday. 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 company has a 50 day moving average price of $294.61 and a 200-day moving average price of $268.60. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The stock has a market capitalization of $326.97 billion, a PE ratio of 59.48, a PEG ratio of 3.04 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. Equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s dividend payout ratio is presently 27.83%.

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.