Sachetta LLC Has $3.01 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Sachetta LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 5,505.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,986 shares of the CRM provider's stock after buying an additional 10,790 shares during the quarter. Salesforce comprises 1.2% of Sachetta LLC's holdings, making the stock its 17th biggest position. Sachetta LLC's holdings in Salesforce were worth $3,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Piscataqua Savings Bank grew its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC increased its holdings in shares of 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. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter worth $33,000. Finally, Stephens Consulting LLC raised its position in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock worth $33,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

CRM traded down $0.56 during trading on Wednesday, hitting $322.87. The company's stock had a trading volume of 1,805,070 shares, compared to its average volume of 6,286,692. The firm's 50 day moving average price is $289.68 and its two-hundred day moving average price is $267.31. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $308.66 billion, a price-to-earnings ratio of 56.22, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. 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 issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The company's revenue was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced 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. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce's payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CRM. Wedbush raised their price objective on shares of Salesforce from $315.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday, September 27th. Stifel Nicolaus lifted their price target on Salesforce from $320.00 to $350.00 and gave the company a "buy" rating in a report on Monday, October 28th. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Sanford C. Bernstein upped their target price on Salesforce from $234.00 to $236.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Finally, DA Davidson raised their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $326.19.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 4,056 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. Insiders have sold a total of 140,173 shares of company stock worth $40,146,206 over the last 90 days. 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.