RDST Capital LLC Acquires 2,140 Shares of Salesforce, Inc. (NYSE:CRM)

RDST Capital LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,770 shares of the CRM provider’s stock after acquiring an additional 2,140 shares during the quarter. Salesforce makes up 6.6% of RDST Capital LLC’s investment portfolio, making the stock its 8th biggest holding. RDST Capital LLC’s holdings in Salesforce were worth $25,137,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CRM. Ruedi Wealth Management Inc. raised its stake in Salesforce by 186.7% during 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 in the last quarter. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce in the 1st quarter valued at about $33,000. Clear Investment Research LLC grew its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Finally, Stephens Consulting LLC increased its position 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 period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CRM shares. BMO Capital Markets raised 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. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Finally, DA Davidson upped their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating 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. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $306.00.

Salesforce Stock Performance

NYSE CRM opened at $264.21 on Tuesday. 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, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The business has a fifty day moving average of $254.37 and a 200-day moving average of $265.91. The stock has a market cap of $256.02 billion, a price-to-earnings ratio of 47.52, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results 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. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced 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 of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total transaction of $249,422.76. Following the sale, the insider now owns 118,514 shares in the company, valued at $31,380,136.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 942 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total transaction of $249,422.76. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at $31,380,136.92. The disclosure for this sale can be found here. In the last three months, insiders sold 70,633 shares of company stock valued at $18,100,349. Company insiders own 3.20% of the company’s stock.

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.