Stratos Wealth Advisors LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Stratos Wealth Advisors LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 35,188 shares of the CRM provider’s stock after acquiring an additional 283 shares during the period. Stratos Wealth Advisors LLC’s holdings in Salesforce were worth $9,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Point Inc. boosted its position in shares of Salesforce by 35.1% in the 3rd quarter. Trust Point Inc. now owns 6,718 shares of the CRM provider’s stock worth $1,839,000 after purchasing an additional 1,744 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Salesforce by 9.1% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 5,958 shares of the CRM provider’s stock worth $1,631,000 after purchasing an additional 496 shares in the last quarter. M3 Advisory Group LLC boosted its position in shares of Salesforce by 6.7% in the 3rd quarter. M3 Advisory Group LLC now owns 1,601 shares of the CRM provider’s stock worth $438,000 after purchasing an additional 101 shares in the last quarter. Claro Advisors LLC boosted its position in shares of Salesforce by 210.1% in the 3rd quarter. Claro Advisors LLC now owns 12,175 shares of the CRM provider’s stock worth $3,332,000 after purchasing an additional 8,249 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Salesforce by 12.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 21,868 shares of the CRM provider’s stock worth $5,985,000 after purchasing an additional 2,354 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.7 %

Shares of CRM stock opened at $293.07 on Friday. 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 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $283.98 billion, a PE ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30. The stock has a fifty day simple moving average of $266.65 and a two-hundred day simple moving average of $263.77.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business 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 business posted $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,155 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $295,425.90. Following the completion of the transaction, the insider now owns 20,556 shares of the company’s stock, valued at $5,257,813.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider R David Schmaier sold 1,155 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $295,425.90. Following the completion of the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,429,961 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRM. JPMorgan Chase & Co. boosted their price target on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Morgan Stanley upped their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $311.66.

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.