Salesforce, Inc. (NYSE:CRM) Shares Purchased by Farallon Capital Management LLC

Farallon Capital Management LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 51.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,946,838 shares of the CRM provider’s stock after purchasing an additional 994,670 shares during the period. Salesforce comprises 3.6% of Farallon Capital Management LLC’s portfolio, making the stock its 2nd biggest holding. Farallon Capital Management LLC’s holdings in Salesforce were worth $757,632,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Ruedi Wealth Management Inc. boosted its stake 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 buying an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Red Tortoise LLC acquired a new stake in shares of Salesforce in the 1st quarter valued at $33,000. Clear Investment Research LLC grew its holdings 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 purchasing an additional 98 shares during the last quarter. Finally, Stephens Consulting LLC increased its position 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 purchasing an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the business’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 $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. The disclosure for this sale can be found here. Insiders have sold 70,633 shares of company stock valued at $18,100,349 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Down 1.0 %

CRM stock opened at $264.21 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $256.02 billion, a P/E ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The business has a 50-day moving average of $254.37 and a 200-day moving average of $265.91.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.61%. Salesforce’s payout ratio is currently 28.78%.

Analyst Ratings Changes

Several brokerages have weighed in on CRM. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. BMO Capital Markets increased their price target on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. DA Davidson lifted their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Finally, 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. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $306.00.

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.