Coastwise Capital Group LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Coastwise Capital Group LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,748 shares of the CRM provider’s stock after buying an additional 697 shares during the period. Salesforce comprises approximately 1.3% of Coastwise Capital Group LLC’s holdings, making the stock its 18th largest holding. Coastwise Capital Group LLC’s holdings in Salesforce were worth $1,573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Clear Investment Research LLC grew its position 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 worth $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the second quarter valued at approximately $33,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 0.0 %

Shares of NYSE:CRM opened at $329.99 on Monday. The business’s 50 day moving average price is $302.12 and its 200-day moving average price is $270.49. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The firm has a market capitalization of $315.47 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CRM. JMP Securities upped their price target on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. UBS Group raised their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley upped their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $343.89.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,510 shares of company stock valued at $42,475,538 over the last 90 days. Corporate 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.