Lebenthal Global Advisors LLC Buys 361 Shares of Salesforce, Inc. (NYSE:CRM)

Lebenthal Global Advisors LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 8.7% during the 3rd quarter, Holdings Channel reports. The fund owned 4,498 shares of the CRM provider’s stock after buying an additional 361 shares during the period. Lebenthal Global Advisors LLC’s holdings in Salesforce were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ruedi Wealth Management Inc. lifted its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% during 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 in the last quarter. Clear Investment Research LLC increased 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 valued at $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake in shares of 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 acquiring an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter worth $33,000. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,303 shares of company stock valued at $42,024,385. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Thursday, September 19th. Stifel Nicolaus raised their price objective on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday. Loop Capital restated a “hold” rating and set a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Finally, 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 research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $313.37.

Salesforce Price Performance

Shares of NYSE:CRM traded up $1.71 on Friday, reaching $293.08. 445,908 shares of the company traded hands, compared to its average volume of 6,259,487. The company’s 50 day moving average is $272.41 and its 200-day moving average is $263.22. The stock has a market capitalization of $280.18 billion, a PE ratio of 50.68, a P/E/G ratio of 2.68 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.