Umpqua Bank Has $1.97 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Umpqua Bank grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,674 shares of the CRM provider’s stock after purchasing an additional 194 shares during the period. Umpqua Bank’s holdings in Salesforce were worth $1,973,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Parcion Private Wealth LLC raised its position in Salesforce by 10.5% in the 2nd quarter. Parcion Private Wealth LLC now owns 5,879 shares of the CRM provider’s stock valued at $1,511,000 after buying an additional 560 shares during the last quarter. Stonebrook Private Inc. raised its holdings in shares of Salesforce by 22.7% in the second quarter. Stonebrook Private Inc. now owns 5,493 shares of the CRM provider’s stock valued at $1,412,000 after purchasing an additional 1,017 shares during the last quarter. Chicago Capital LLC lifted its position in shares of Salesforce by 10.0% during the second quarter. Chicago Capital LLC now owns 259,356 shares of the CRM provider’s stock valued at $66,681,000 after purchasing an additional 23,578 shares in the last quarter. One Wealth Management Investment & Advisory Services LLC boosted its holdings in Salesforce by 1.7% during the second quarter. One Wealth Management Investment & Advisory Services LLC now owns 6,860 shares of the CRM provider’s stock worth $1,764,000 after purchasing an additional 114 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Salesforce by 2.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 48,516 shares of the CRM provider’s stock worth $12,473,000 after purchasing an additional 1,290 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $241.74, for a total value of $3,626,100.00. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $2,940,152,355.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, June 10th. The shares were sold at an average price of $241.74, for a total value of $3,626,100.00. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $2,940,152,355.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction 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. The disclosure for this sale can be found here. Insiders sold 83,692 shares of company stock worth $21,006,957 in the last ninety days. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRM. Roth Mkm restated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $315.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Oppenheimer raised their target price on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. TD Cowen lifted their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $304.41.

Salesforce Stock Down 0.9 %

Shares of NYSE CRM opened at $243.97 on Friday. The stock has a market capitalization of $236.41 billion, a P/E ratio of 43.88, a PEG ratio of 2.22 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 1.11. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm’s 50 day simple moving average is $254.52 and its two-hundred day simple moving average is $269.68.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. As a group, analysts expect that Salesforce, Inc. will post 7.52 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 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.