Patriot Financial Group Insurance Agency LLC Purchases 101 Shares of Salesforce, Inc. (NYSE:CRM)

Patriot Financial Group Insurance Agency LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 3.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,445 shares of the CRM provider’s stock after acquiring an additional 101 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Salesforce were worth $886,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares in the last quarter. Capital World Investors lifted its stake in Salesforce by 2.4% in the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after acquiring an additional 457,463 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after acquiring an additional 752,566 shares in the last quarter. Capital Research Global Investors increased its position in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 4,056 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 4,056 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,764 shares of company stock valued at $30,102,367. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Wednesday. Raymond James reiterated a “strong-buy” rating and set a $325.00 price objective (down previously from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Thursday, May 30th. Oppenheimer dropped their price objective on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, BMO Capital Markets dropped their price objective on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $292.38.

Salesforce Stock Performance

CRM stock traded down $2.93 during trading hours on Wednesday, hitting $261.27. 3,726,612 shares of the stock were exchanged, compared to its average volume of 6,520,730. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $253.17 billion, a P/E ratio of 46.76, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a 50-day simple moving average of $252.79 and a two-hundred day simple moving average of $271.82. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 EPS. On average, analysts forecast that Salesforce, Inc. will post 7.47 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is currently 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.