Salesforce, Inc. (NYSE:CRM) Shares Acquired by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,142 shares of the CRM provider’s stock after buying an additional 319 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Salesforce were worth $7,703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Spartan Planning & Wealth Management boosted its holdings in Salesforce by 66.3% in the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Salesforce by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares in the last quarter. XN LP boosted its holdings in Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares in the last quarter. M&G Plc acquired a new position in Salesforce in the first quarter valued at approximately $2,178,000. Finally, First Foundation Advisors boosted its holdings in Salesforce by 38.0% in the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after purchasing an additional 228 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total transaction of $1,141,350.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $32,206,179.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total value of $1,141,350.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at $32,206,179.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the transaction, the director now owns 1,363 shares in the company, valued at $376,624.16. The disclosure for this sale can be found here. Insiders sold 72,185 shares of company stock worth $18,773,713 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRM. Sanford C. Bernstein increased their price objective on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Raymond James increased their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Canaccord Genuity Group increased their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Roth Mkm reissued a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $310.74.

Salesforce Trading Up 3.2 %

Shares of CRM stock opened at $279.48 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $270.82 billion, a P/E ratio of 50.27, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The stock has a 50 day simple moving average of $257.54 and a 200 day simple moving average of $264.75. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

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, beating 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 business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid 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 0.57%. Salesforce’s dividend payout ratio is 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.