Integral Investment Advisors Inc. bought a new position in Salesforce Inc. (NYSE:CRM – Free Report) during the second quarter, Holdings Channel reports. The firm bought 857 shares of the CRM provider’s stock, valued at approximately $234,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in CRM. Brighton Jones LLC raised its holdings in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares during the last quarter. Bison Wealth LLC raised its holdings in shares of Salesforce by 9.0% in the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after acquiring an additional 184 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Salesforce by 23.7% in the 1st quarter. Golden State Wealth Management LLC now owns 1,931 shares of the CRM provider’s stock valued at $518,000 after buying an additional 370 shares during the last quarter. Finally, Joel Isaacson & Co. LLC increased its stake in Salesforce by 18.7% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,888 shares of the CRM provider’s stock valued at $775,000 after buying an additional 454 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Salesforce Trading Up 0.3%
Shares of CRM stock opened at $255.49 on Tuesday. The company has a 50 day moving average of $246.75 and a 200-day moving average of $258.05. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 12-month low of $226.48 and a 12-month high of $369.00. The firm has a market cap of $243.23 billion, a P/E ratio of 37.14, a PEG ratio of 2.14 and a beta of 1.19.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were issued a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $1.66 annualized dividend and a yield of 0.7%. Salesforce’s dividend payout ratio (DPR) is 24.13%.
Insider Activity at Salesforce
In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $247.67, for a total value of $557,257.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $2,950,138,789.57. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David Blair Kirk purchased 3,400 shares of the business’s stock in a transaction on Tuesday, September 9th. The stock was purchased at an average cost of $254.66 per share, with a total value of $865,844.00. Following the completion of the acquisition, the director owned 3,824 shares in the company, valued at approximately $973,819.84. This trade represents a 801.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 78,750 shares of company stock valued at $19,394,393. 3.00% of the stock is owned by insiders.
Analyst Ratings Changes
CRM has been the topic of several recent analyst reports. Roth Capital reissued a “buy” rating and set a $395.00 target price on shares of Salesforce in a research report on Thursday, September 4th. Barclays dropped their target price on shares of Salesforce from $347.00 to $316.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. JPMorgan Chase & Co. dropped their target price on shares of Salesforce from $380.00 to $365.00 and set an “overweight” rating on the stock in a research report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Salesforce from $400.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Finally, Northland Securities cut shares of Salesforce from an “outperform” rating to a “market perform” rating and set a $264.00 target price on the stock. in a research report on Tuesday, October 14th. Twenty-five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $325.23.
View Our Latest Analysis on CRM
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.
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