Good Life Advisors LLC Has $607,000 Position in Salesforce, Inc. (NYSE:CRM)

Good Life Advisors LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 35.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,216 shares of the CRM provider’s stock after buying an additional 581 shares during the period. Good Life Advisors LLC’s holdings in Salesforce were worth $607,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Ruedi Wealth Management Inc. lifted its position in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Red Tortoise LLC bought a new stake in Salesforce during the first quarter worth $33,000. Finally, Stephens Consulting LLC raised its position in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on CRM shares. UBS Group raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Wedbush boosted their price target on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $311.66.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,612 shares of company stock worth $21,429,961. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $293.07 on Friday. The company has a market capitalization of $283.98 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30. The business has a 50 day moving average of $266.65 and a 200 day moving average of $263.77. 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, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

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

Salesforce Announces Dividend

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

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.