Salesforce, Inc. (NYSE:CRM) Stake Cut by Riverview Capital Advisers LLC

Riverview Capital Advisers LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,852 shares of the CRM provider’s stock after selling 47 shares during the quarter. Riverview Capital Advisers LLC’s holdings in Salesforce were worth $1,505,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. grew its position in Salesforce by 186.7% during 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 increased its stake in shares of Salesforce by 2,400.0% in the second 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 boosted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at about $33,000. Finally, Stephens Consulting LLC increased its position 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 purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CRM. Jefferies Financial Group lowered their price target on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. BMO Capital Markets increased their target price on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Sanford C. Bernstein boosted their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Oppenheimer lifted their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $305.55.

Insider Buying and Selling

In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the transaction, the insider now owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,576 shares of company stock worth $16,957,573. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $252.42 on Thursday. The stock has a market cap of $244.59 billion, a PE ratio of 45.40, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The stock has a 50-day moving average of $253.60 and a 200-day moving average of $267.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last released 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 company 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 revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders 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 dividend yield of 0.63%. Salesforce’s dividend payout ratio is currently 28.78%.

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.