Brookstone Capital Management Has $11.77 Million Stake in Salesforce, Inc. (NYSE:CRM)

Brookstone Capital Management lifted its stake in Salesforce, Inc. (NYSE:CRM) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,088 shares of the CRM provider’s stock after purchasing an additional 622 shares during the period. Brookstone Capital Management’s holdings in Salesforce were worth $11,773,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CRM. Capital World Investors lifted its holdings in Salesforce by 2.4% in the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after purchasing an additional 752,566 shares during the period. Capital International Investors boosted its position in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Norges Bank acquired a new stake in shares of Salesforce during the fourth quarter worth $2,762,331,000. Finally, Parnassus Investments LLC increased its holdings in Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 5,864 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the sale, the chief financial officer now directly owns 45,231 shares in the company, valued at $12,428,121.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,787 shares of company stock worth $149,773,683. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 4.0 %

Shares of CRM stock opened at $252.97 on Friday. The stock has a market cap of $245.13 billion, a P/E ratio of 45.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $260.43 and a 200 day simple moving average of $276.33.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The firm had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 EPS. On average, research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is presently 7.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CRM shares. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Thursday, May 30th. Raymond James restated a “strong-buy” rating and set a $325.00 price objective (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 30th. JPMorgan Chase & Co. cut their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. TD Cowen lowered their price objective on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Finally, Citigroup reduced their target price on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

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.