B&L Asset Management LLC Acquires Shares of 2,369 Salesforce, Inc. (NYSE:CRM)

B&L Asset Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the third quarter, Holdings Channel.com reports. The firm bought 2,369 shares of the CRM provider’s stock, valued at approximately $648,000.

Several other large investors have also recently modified their holdings of the business. Piscataqua Savings Bank boosted its holdings in 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 buying an additional 96 shares during the period. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the third quarter worth $27,000. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Stephens Consulting LLC grew its position 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 valued at $33,000 after purchasing an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock valued at $42,475,538 over the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $329.99 on Friday. The company has a market capitalization of $315.47 billion, a P/E ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $302.12 and a two-hundred day moving average price of $270.61.

Salesforce (NYSE:CRM) last posted its quarterly 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. The company had revenue of $9.33 billion during 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 firm’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. Analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is currently 27.83%.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday, October 17th. Bank of America boosted their price objective on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Stifel Nicolaus boosted their price target on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $341.89.

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.