AE Wealth Management LLC Has $38.77 Million Position in Salesforce, Inc. (NYSE:CRM)

AE Wealth Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,790 shares of the CRM provider’s stock after purchasing an additional 1,628 shares during the quarter. AE Wealth Management LLC’s holdings in Salesforce were worth $38,768,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spartan Planning & Wealth Management increased its stake in Salesforce by 66.3% during the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares in the last quarter. Parnassus Investments LLC increased its stake in Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares in the last quarter. TD Asset Management Inc increased its stake in Salesforce by 32.6% during the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after purchasing an additional 194,224 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Salesforce by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares in the last quarter. Finally, XN LP increased its stake in Salesforce by 24.2% during 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 in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 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 $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,576 shares of company stock valued at $16,957,573. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 5.3 %

Shares of Salesforce stock opened at $265.87 on Friday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market cap of $257.63 billion, a price-to-earnings ratio of 47.82, a PEG ratio of 2.26 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $253.90 and its 200-day moving average price is $267.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, Robert W. Baird upped their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $306.00.

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.