Pursue Wealth Partners LLC Has $1.31 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Pursue Wealth Partners LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 26.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,798 shares of the CRM provider’s stock after buying an additional 1,018 shares during the period. Pursue Wealth Partners LLC’s holdings in Salesforce were worth $1,313,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. XN LP raised its holdings in shares of Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares during the period. Atomi Financial Group Inc. grew its position in Salesforce by 27.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after acquiring an additional 2,589 shares during the last quarter. M&G Plc acquired a new position in shares of Salesforce in the first quarter valued at approximately $2,178,000. First Foundation Advisors raised its stake in shares of Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after acquiring an additional 228 shares during the last quarter. Finally, Elevated Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter worth about $523,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,303 shares of company stock valued at $42,024,385. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.7 %

Shares of CRM opened at $293.50 on Friday. Salesforce, Inc. has a 52-week low of $204.69 and a 52-week high of $318.71. The stock has a market cap of $280.59 billion, a PE ratio of 50.68, a price-to-earnings-growth ratio of 2.68 and a beta of 1.30. The firm’s fifty day moving average is $272.41 and its two-hundred day moving average is $263.22. 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 the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 EPS. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s dividend payout ratio is currently 27.83%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. Loop Capital reissued a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. UBS Group boosted their target price on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus upped their target price on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $313.37.

About Salesforce

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.