Secure Asset Management LLC Has $1.35 Million Position in Salesforce, Inc. (NYSE:CRM)

Secure Asset Management LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 26.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,260 shares of the CRM provider’s stock after buying an additional 1,100 shares during the period. Secure Asset Management LLC’s holdings in Salesforce were worth $1,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CRM. Signature Resources Capital Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $26,000. Ruedi Wealth Management Inc. increased its holdings in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Red Tortoise LLC bought a new position in Salesforce in the 1st quarter valued at $33,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Up 2.1 %

NYSE CRM traded up $5.33 during trading on Friday, hitting $263.92. The stock had a trading volume of 4,709,214 shares, compared to its average volume of 6,563,299. The company has a market capitalization of $255.74 billion, a PE ratio of 47.47, a P/E/G ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company’s 50-day moving average price is $252.09 and its two-hundred day moving average price is $272.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 earnings per share. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $269.32, for a total transaction of $4,039,800.00. Following the transaction, the chief executive officer now owns 12,437,327 shares in the company, valued at $3,349,620,907.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,974 shares of company stock worth $33,440,920. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. Stifel Nicolaus lowered their price objective on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. UBS Group lowered their price target on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. TD Cowen cut their price objective on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. Morgan Stanley lowered their target price on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Finally, Citigroup cut their price target on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $291.50.

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.