MRP Capital Investments LLC Acquires New Stake in Salesforce, Inc. (NYSE:CRM)

MRP Capital Investments LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,629 shares of the CRM provider’s stock, valued at approximately $419,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gilbert & Cook Inc. raised its holdings in Salesforce by 6.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after purchasing an additional 366 shares during the last quarter. Aveo Capital Partners LLC increased its position in shares of Salesforce by 44.7% during the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after buying an additional 496 shares during the period. 9258 Wealth Management LLC raised its stake in Salesforce by 24.0% during the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after buying an additional 1,253 shares during the last quarter. Gryphon Financial Partners LLC lifted its holdings in Salesforce by 32.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after buying an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC lifted its holdings in Salesforce by 1.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock valued at $2,115,000 after buying an additional 133 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Parker Harris sold 5,600 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at approximately $29,193,087.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Parker Harris sold 5,600 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at approximately $29,193,087.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,576 shares of company stock worth $16,957,573. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $252.42 on Thursday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company’s 50 day moving average price is $253.60 and its two-hundred day moving average price is $267.01. The stock has a market cap of $244.59 billion, a P/E ratio of 45.40, a P/E/G ratio of 2.26 and a beta of 1.29. 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 issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. 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%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRM shares. JMP Securities reissued a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Raymond James lifted their target price on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. DA Davidson boosted their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Roth Mkm reissued a “buy” rating and set a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $305.55.

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.