Foundations Investment Advisors LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Foundations Investment Advisors LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 18.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 31,721 shares of the CRM provider’s stock after buying an additional 4,891 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Salesforce were worth $8,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. XN LP grew its stake in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after buying an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. lifted its position in Salesforce by 27.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after acquiring an additional 2,589 shares during the period. M&G Plc acquired a new stake in Salesforce during the 1st quarter worth approximately $2,178,000. First Foundation Advisors lifted its position in Salesforce by 38.0% during the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after acquiring an additional 228 shares during the period. Finally, St. Johns Investment Management Company LLC lifted its position in Salesforce by 4.1% during the 1st quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock worth $1,757,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $291.33 on Tuesday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market capitalization of $282.30 billion, a P/E ratio of 52.40, a PEG ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average price is $267.44 and its 200 day moving average price is $263.18.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 dividend payout ratio is presently 28.78%.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 969 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,353,653.18. 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 can be accessed through this link. Also, COO Brian Millham sold 969 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total value of $245,767.47. The disclosure for this sale can be found here. Insiders have sold a total of 76,110 shares of company stock worth $20,292,760 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Stifel Nicolaus increased their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Robert W. Baird increased their price objective on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Wells Fargo & Company increased their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $311.66.

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.