Salesforce, Inc. (NYSE:CRM) Shares Acquired by Brookstone Capital Management

Brookstone Capital Management boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,515 shares of the CRM provider’s stock after purchasing an additional 4,642 shares during the quarter. Brookstone Capital Management’s holdings in Salesforce were worth $15,469,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Regal Investment Advisors LLC boosted its stake in Salesforce by 3.3% during the 4th quarter. Regal Investment Advisors LLC now owns 2,246 shares of the CRM provider’s stock valued at $591,000 after purchasing an additional 71 shares during the period. Visionary Wealth Advisors boosted its position in shares of Salesforce by 3.2% during the fourth quarter. Visionary Wealth Advisors now owns 3,280 shares of the CRM provider’s stock worth $863,000 after buying an additional 102 shares during the period. MGO One Seven LLC increased its position in Salesforce by 15.9% in the 4th quarter. MGO One Seven LLC now owns 12,849 shares of the CRM provider’s stock valued at $3,381,000 after acquiring an additional 1,764 shares during the period. Oribel Capital Management LP acquired a new stake in Salesforce in the 4th quarter valued at approximately $49,786,000. Finally, Ethic Inc. raised its stake in Salesforce by 7.6% during the 4th quarter. Ethic Inc. now owns 77,619 shares of the CRM provider’s stock valued at $20,425,000 after acquiring an additional 5,480 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at $29,745,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Insiders sold a total of 76,412 shares of company stock worth $20,071,723 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 2.5 %

Shares of CRM opened at $291.57 on Wednesday. The stock’s 50-day moving average price is $259.05 and its 200 day moving average price is $264.06. 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 firm has a market capitalization of $282.53 billion, a price-to-earnings ratio of 52.44, a P/E/G 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.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.63 earnings per share. Salesforce’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CRM shares. Evercore ISI reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Wednesday, August 28th. TD Cowen upped their target price on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Eight equities 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.74.

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.