Pathway Financial Advisors LLC Acquires 102 Shares of Salesforce, Inc. (NYSE:CRM)

Pathway Financial Advisors LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,634 shares of the CRM provider’s stock after acquiring an additional 102 shares during the period. Pathway Financial Advisors LLC’s holdings in Salesforce were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after purchasing an additional 736,986 shares during the last quarter. Capital Research Global Investors boosted its stake in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Capital International Investors boosted its stake in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at approximately $29,745,045.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,412 shares of company stock valued at $20,071,723. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research analyst reports. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Bank of America reiterated a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research note on Friday, September 6th. Canaccord Genuity Group boosted their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley boosted their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Price Performance

Shares of Salesforce stock opened at $291.57 on Wednesday. The firm has a market cap of $282.53 billion, a PE ratio of 52.44, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $259.05 and its two-hundred day simple moving average is $264.06.

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. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. As a group, equities analysts expect that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 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.