Salesforce, Inc. (NYSE:CRM) Stock Position Lifted by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 46.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,328 shares of the CRM provider's stock after buying an additional 3,292 shares during the quarter. GAMMA Investing LLC's holdings in Salesforce were worth $2,827,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. raised its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider's stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank grew its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock worth $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC increased its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock valued at $28,000 after buying an additional 98 shares in the last quarter. Red Tortoise LLC acquired a new stake in Salesforce in the first quarter valued at $33,000. Finally, Stephens Consulting LLC increased its position in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CRM. Wells Fargo & Company raised their target price on shares of Salesforce from $250.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, August 29th. Oppenheimer lifted their price objective on Salesforce from $280.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. UBS Group raised their price target on Salesforce from $250.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Erste Group Bank reissued a "hold" rating on shares of Salesforce in a research report on Wednesday, September 11th. Finally, BMO Capital Markets increased their target price on Salesforce from $265.00 to $305.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.74.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the firm's stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the transaction, the insider now directly owns 116,693 shares in the company, valued at approximately $29,745,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at approximately $29,745,045.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 8,427 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,133,273 over the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 1.1 %

NYSE CRM traded down $3.27 during trading hours on Monday, reaching $284.48. 4,793,580 shares of the company traded hands, compared to its average volume of 6,534,473. The stock has a market capitalization of $275.66 billion, a PE ratio of 51.04, a PEG ratio of 2.39 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a 50 day moving average of $258.53 and a two-hundred day moving average of $264.22.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.63 earnings per share. As a group, equities analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce's dividend payout ratio (DPR) is presently 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.