Optas LLC Has $1.98 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Optas LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,242 shares of the CRM provider’s stock after purchasing an additional 107 shares during the quarter. Optas LLC’s holdings in Salesforce were worth $1,982,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CRM. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its holdings in shares of 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 acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC grew its position in Salesforce by 3,125.0% during the 2nd 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 last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the 2nd quarter worth about $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s 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 of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s 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 of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the completion of the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,586,572.08. The trade was a 0.00 % decrease in their ownership of the stock. 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 have recently weighed in on CRM shares. DA Davidson boosted their price target on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Raymond James boosted their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. BMO Capital Markets raised their price target on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Citigroup boosted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Nine 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

Salesforce Trading Up 1.1 %

CRM opened at $294.72 on Friday. 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, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71. The firm has a market capitalization of $281.75 billion, a PE ratio of 51.26, a P/E/G ratio of 2.68 and a beta of 1.29. The company’s 50-day moving average is $273.02 and its 200 day moving average is $263.27.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

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.