Salesforce, Inc. (NYSE:CRM) Shares Bought by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,327 shares of the CRM provider’s stock after purchasing an additional 94 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Salesforce were worth $598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nelson Capital Management LLC increased its holdings in shares of Salesforce by 3.8% in the second quarter. Nelson Capital Management LLC now owns 7,193 shares of the CRM provider’s stock valued at $1,849,000 after purchasing an additional 260 shares during the period. Vanguard Capital Wealth Advisors acquired a new position in Salesforce in the 2nd quarter worth approximately $322,000. Beverly Hills Private Wealth LLC raised its position in Salesforce by 74.8% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 1,696 shares of the CRM provider’s stock worth $436,000 after buying an additional 726 shares during the last quarter. Eagle Strategies LLC raised its position in Salesforce by 236.4% during the 2nd quarter. Eagle Strategies LLC now owns 6,533 shares of the CRM provider’s stock worth $1,680,000 after buying an additional 4,591 shares during the last quarter. Finally, BOKF NA boosted its holdings in shares of Salesforce by 85.8% in the 2nd quarter. BOKF NA now owns 45,603 shares of the CRM provider’s stock valued at $11,725,000 after acquiring an additional 21,060 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRM. TD Cowen raised their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Stifel Nicolaus lifted their price objective on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Roth Mkm reaffirmed a “buy” rating and set a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Finally, Sanford C. Bernstein boosted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.41.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value 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 SEC, which can be accessed through this link. In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,892 shares of company stock worth $15,269,897. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.4 %

Shares of NYSE:CRM opened at $249.57 on Thursday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock has a market cap of $241.83 billion, a P/E ratio of 44.89, a PEG ratio of 2.21 and a beta of 1.29. The business has a fifty day moving average of $253.88 and a two-hundred day moving average of $268.78. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio 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.