Salesforce, Inc. (NYSE:CRM) Shares Bought by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 20.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 937 shares of the CRM provider’s stock after acquiring an additional 162 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Salesforce were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CRM. Argus Investors Counsel Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $982,000. SOL Capital Management CO purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $241,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $241,000. Executive Wealth Management LLC grew its stake in shares of Salesforce by 2.1% in the 4th quarter. Executive Wealth Management LLC now owns 12,315 shares of the CRM provider’s stock valued at $3,241,000 after purchasing an additional 248 shares during the last quarter. Finally, Jmac Enterprises LLC grew its stake in shares of Salesforce by 2.0% in the 4th quarter. Jmac Enterprises LLC now owns 4,131 shares of the CRM provider’s stock valued at $1,087,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $276.84, for a total transaction of $4,152,600.00. Following the sale, the chief executive officer now directly owns 12,587,327 shares in the company, valued at approximately $3,484,675,606.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $276.84, for a total value of $4,152,600.00. Following the sale, the chief executive officer now owns 12,587,327 shares in the company, valued at $3,484,675,606.68. The disclosure for this sale can be found here. Insiders sold 232,842 shares of company stock valued at $60,982,983 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.4 %

CRM stock traded up $3.41 during trading on Friday, reaching $252.53. 2,975,285 shares of the stock traded hands, compared to its average volume of 6,696,709. The business’s 50 day moving average price is $247.58 and its 200-day moving average price is $273.79. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $244.70 billion, a PE ratio of 45.42, a P/E/G ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is 28.78%.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Barclays lowered their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. JPMorgan Chase & Co. decreased their price target on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Wolfe Research restated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Raymond James restated a “strong-buy” rating and issued a $325.00 price target (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.79.

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.