Salesforce, Inc. (NYSE:CRM) Shares Purchased by Secure Asset Management LLC

Secure Asset Management LLC grew its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,244 shares of the CRM provider's stock after acquiring an additional 1,893 shares during the period. Secure Asset Management LLC's holdings in Salesforce were worth $2,481,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Salesforce during the 4th quarter valued at $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Salesforce by 926.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. GAMMA Investing LLC increased its holdings in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after purchasing an additional 3,789,147 shares during the period. Raymond James Financial Inc. bought a new stake in Salesforce during the 4th quarter valued at $1,173,564,000. Finally, Invesco Ltd. grew its holdings in Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares in the company, valued at $3,218,599.80. This trade represents a 14.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 3,273 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the sale, the insider now directly owns 125,146 shares of the company's stock, valued at $35,614,048.68. The trade was a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

Salesforce Trading Up 1.4%

Salesforce stock traded up $3.64 during trading on Thursday, hitting $266.81. The company had a trading volume of 8,638,662 shares, compared to its average volume of 6,624,516. The company's 50 day simple moving average is $266.51 and its 200-day simple moving average is $303.30. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. 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 market cap of $255.07 billion, a price-to-earnings ratio of 43.88, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last year, the company posted $2.44 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 25.98%.

Analysts Set New Price Targets

Several research firms have issued reports on CRM. Macquarie reiterated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Northland Securities cut their price objective on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Oppenheimer reiterated an "outperform" rating and issued a $370.00 target price (down from $380.00) on shares of Salesforce in a research note on Thursday, May 29th. Loop Capital lowered their price target on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company raised their price target on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

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.