Elevated Capital Advisors LLC Buys New Holdings in Salesforce, Inc. (NYSE:CRM)

Elevated Capital Advisors LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,909 shares of the CRM provider’s stock, valued at approximately $523,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC increased its stake in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce in the 1st quarter worth approximately $33,000. Finally, Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Salesforce news, COO Brian Millham sold 4,056 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were 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 approximately $28,362,888.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,812 shares of company stock valued at $23,418,916 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.4 %

CRM opened at $284.37 on Thursday. The stock has a fifty day moving average price of $268.70 and a 200-day moving average price of $263.24. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The firm has a market cap of $275.55 billion, a price-to-earnings ratio of 51.15, a PEG ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.63 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CRM. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Wedbush lifted their target price on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. DA Davidson lifted their target price on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.66.

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.