Frank Rimerman Advisors LLC Acquires 14,450 Shares of Salesforce, Inc. (NYSE:CRM)

Frank Rimerman Advisors LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1,000.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,894 shares of the CRM provider’s stock after buying an additional 14,450 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Salesforce were worth $4,086,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ruedi Wealth Management Inc. raised its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank raised its stake in shares of 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 purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce in the first quarter valued at $33,000. Finally, Stephens Consulting LLC increased its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRM shares. Bank of America reissued a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. UBS Group boosted their price target on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. TD Cowen boosted their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Finally, BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $306.00.

Salesforce Trading Up 0.3 %

Shares of CRM opened at $266.80 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market cap of $258.53 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 2.26 and a beta of 1.29. The business’s fifty day moving average is $254.14 and its 200-day moving average is $266.44.

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

Salesforce Announces Dividend

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 given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Activity

In related news, insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction 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 owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00. Following the completion of the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,576 shares of company stock valued at $16,957,573. 3.20% of the stock is currently owned by insiders.

Salesforce 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.