Angeles Investment Advisors LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Angeles Investment Advisors LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,773 shares of the CRM provider’s stock after purchasing an additional 211 shares during the period. Angeles Investment Advisors LLC’s holdings in Salesforce were worth $713,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRM. Capital International Investors increased its holdings in Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the last quarter. Capital Research Global Investors increased its stake 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. GQG Partners LLC bought a new stake in shares of Salesforce in the 1st quarter worth approximately $910,220,000. Swedbank AB purchased a new position in Salesforce in the first quarter valued at approximately $874,748,000. Finally, Coatue Management LLC bought a new position in Salesforce during the fourth quarter valued at $564,188,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.5 %

Shares of CRM opened at $254.57 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a 50 day moving average price of $253.56 and a 200-day moving average price of $267.91. The firm has a market cap of $246.68 billion, a price-to-earnings ratio of 45.79, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.63 earnings per share. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.63%. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRM shares. Macquarie lowered their target price on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. BMO Capital Markets boosted their price objective on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Mizuho lowered their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Citigroup raised their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $305.55.

Insider Activity

In related news, insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce 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 value of $1,060,644.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,376 shares of company stock valued at $15,878,005. 3.20% of the stock is currently owned by company insiders.

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.