GSG Advisors LLC Has $325,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

GSG Advisors LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 8.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,200 shares of the CRM provider’s stock after purchasing an additional 96 shares during the quarter. GSG Advisors LLC’s holdings in Salesforce were worth $325,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Umpqua Bank grew its position in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the last quarter. Nvwm LLC raised its position in Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares during the last quarter. Prentice Wealth Management LLC boosted its stake in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares in the last quarter. Private Wealth Management Group LLC grew its holdings in shares of Salesforce by 11.6% during the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after purchasing an additional 37 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its stake in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after buying an additional 38 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now owns 117,581 shares in the company, valued at $30,920,275.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,573 shares of company stock worth $42,319,874. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRM shares. Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Canaccord Genuity Group increased their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Stifel Nicolaus boosted 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, October 28th. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce Stock Performance

Shares of CRM stock opened at $321.95 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 52 week low of $208.84 and a 52 week high of $322.81. The company’s 50 day moving average price is $277.76 and its two-hundred day moving average price is $264.52. The company has a market capitalization of $307.78 billion, a P/E ratio of 55.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 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 firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.63 earnings per share. On average, analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio is currently 27.83%.

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.