Founders Financial Securities LLC Buys 247 Shares of Salesforce, Inc. (NYSE:CRM)

Founders Financial Securities LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,504 shares of the CRM provider’s stock after purchasing an additional 247 shares during the quarter. Founders Financial Securities LLC’s holdings in Salesforce were worth $901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Oregon Public Employees Retirement Fund lifted its holdings in shares of Salesforce by 0.9% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 83,429 shares of the CRM provider’s stock worth $21,450,000 after acquiring an additional 712 shares during the last quarter. Octavia Wealth Advisors LLC lifted its holdings in shares of Salesforce by 6.4% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 4,048 shares of the CRM provider’s stock worth $1,041,000 after acquiring an additional 243 shares during the last quarter. Northstar Advisory Group LLC raised its holdings in Salesforce by 0.5% during the 2nd quarter. Northstar Advisory Group LLC now owns 10,497 shares of the CRM provider’s stock valued at $2,699,000 after buying an additional 53 shares during the last quarter. Naviter Wealth LLC raised its holdings in Salesforce by 13.4% during the 2nd quarter. Naviter Wealth LLC now owns 8,026 shares of the CRM provider’s stock valued at $2,063,000 after buying an additional 951 shares during the last quarter. Finally, Magnus Financial Group LLC raised its holdings in Salesforce by 16.9% during the 2nd quarter. Magnus Financial Group LLC now owns 2,567 shares of the CRM provider’s stock valued at $660,000 after buying an additional 372 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 0.1 %

CRM opened at $247.70 on Thursday. The company has a market capitalization of $240.02 billion, a PE ratio of 44.55, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The firm has a 50-day simple moving average of $254.92 and a two-hundred day simple moving average of $270.28. The company has a quick ratio of 1.11, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

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, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. Analysts forecast that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is currently 28.78%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. BMO Capital Markets upped their price target on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Phillip Securities reissued an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $304.41.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $240.40, for a total transaction of $673,120.00. Following the completion of the transaction, the insider now owns 115,762 shares in the company, valued at $27,829,184.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $240.40, for a total transaction of $673,120.00. Following the transaction, the insider now directly owns 115,762 shares in the company, valued at $27,829,184.80. The disclosure for this sale can be found here. Insiders have sold 95,164 shares of company stock worth $23,760,225 over the last quarter. Insiders own 3.20% of the company’s stock.

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.