Aldebaran Financial Inc. Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Aldebaran Financial Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,735 shares of the CRM provider’s stock after buying an additional 121 shares during the period. Salesforce makes up approximately 1.7% of Aldebaran Financial Inc.’s portfolio, making the stock its 18th biggest holding. Aldebaran Financial Inc.’s holdings in Salesforce were worth $1,217,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Ruedi Wealth Management Inc. raised its position in Salesforce by 186.7% in 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 during the period. Piscataqua Savings Bank raised 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 worth $26,000 after purchasing an additional 96 shares during the period. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at approximately $33,000. Clear Investment Research LLC lifted its stake in Salesforce by 816.7% in 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. Finally, Stephens Consulting LLC increased its position in Salesforce by 3,125.0% in 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 owned by institutional investors.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the completion of the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. The disclosure for this sale can be found here. Insiders have sold 67,985 shares of company stock valued at $17,632,363 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRM. JPMorgan Chase & Co. upped their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird increased their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley lifted 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. UBS Group raised their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.03.

Salesforce Trading Down 1.1 %

CRM stock opened at $273.68 on Tuesday. The company has a market capitalization of $265.20 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 2.39 and a beta of 1.29. 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 one year low of $193.68 and a one year high of $318.71. The company’s 50 day moving average price is $256.65 and its two-hundred day moving average price is $264.81.

Salesforce (NYSE:CRM) last issued its 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. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company earned $1.63 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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 of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s payout ratio is 28.78%.

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.