Salesforce, Inc. (NYSE:CRM) Shares Acquired by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 160.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,207 shares of the CRM provider’s stock after acquiring an additional 12,434 shares during the quarter. Salesforce accounts for 1.3% of Bulltick Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position. Bulltick Wealth Management LLC’s holdings in Salesforce were worth $5,195,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Fox Hill Wealth Management grew its holdings in shares of Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. increased its position in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares in the last quarter. Glassman Wealth Services lifted its holdings in shares of Salesforce by 2.9% during the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after acquiring an additional 39 shares in the last quarter. Blue Barn Wealth LLC boosted its position in Salesforce by 1.8% during the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after purchasing an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC raised its position in Salesforce by 0.8% in the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Loop Capital reissued a “hold” rating and set a $270.00 target price on shares of Salesforce in a research report on Thursday. Stifel Nicolaus upped their target price on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Macquarie decreased their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $306.00.

Salesforce Stock Up 0.2 %

Shares of Salesforce stock opened at $266.57 on Friday. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a market capitalization of $258.31 billion, a P/E ratio of 47.94, a PEG ratio of 2.26 and a beta of 1.29. The business’s fifty day moving average price is $254.14 and its two-hundred day moving average price is $266.67. 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 (NYSE:CRM) last posted its quarterly earnings data 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. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at $30,223,020.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the sale, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The disclosure for this sale can be found here. Insiders sold 66,576 shares of company stock worth $16,957,573 over the last ninety days. Company 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.