Claro Advisors LLC Has $1.50 Million Position in Salesforce, Inc. (NYSE:CRM)

Claro Advisors LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 39.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,476 shares of the CRM provider's stock after purchasing an additional 1,550 shares during the period. Claro Advisors LLC's holdings in Salesforce were worth $1,499,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Umpqua Bank boosted its position in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider's stock valued at $2,110,000 after acquiring an additional 34 shares during the period. Nvwm LLC boosted its position in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider's stock valued at $667,000 after acquiring an additional 36 shares during the period. Prentice Wealth Management LLC boosted its position in shares of Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider's stock valued at $686,000 after acquiring an additional 37 shares during the period. Private Wealth Management Group LLC boosted its position in shares of Salesforce by 11.6% in the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider's stock valued at $98,000 after acquiring an additional 37 shares during the period. Finally, Fulton Bank N.A. boosted its position in shares of Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider's stock valued at $2,537,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares of the company's stock, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,373 shares of company stock valued at $41,250,680 over the last quarter. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CRM shares. Jefferies Financial Group increased their price objective on Salesforce from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Evercore ISI reiterated an "outperform" rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Loop Capital increased their price objective on shares of Salesforce from $270.00 to $340.00 and gave the company a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an "overweight" rating in a research report on Thursday, August 29th. Finally, Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $322.51.

Salesforce Trading Down 1.9 %

Shares of CRM traded down $6.39 on Friday, reaching $325.26. 7,093,003 shares of the company's stock were exchanged, compared to its average volume of 5,164,433. 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 capitalization of $310.95 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The business has a 50 day moving average price of $286.61 and a two-hundred day moving average price of $266.61. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last posted 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 net margin of 15.44% and a return on equity of 12.01%. 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 previous year, the firm posted $1.63 earnings per share. Salesforce's revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's dividend payout ratio is 27.83%.

About Salesforce

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.