Wealth Alliance Has $2.32 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Wealth Alliance decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,032 shares of the CRM provider’s stock after selling 2,325 shares during the quarter. Wealth Alliance’s holdings in Salesforce were worth $2,322,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Ruedi Wealth Management Inc. raised its stake in shares of Salesforce by 186.7% in the 1st 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 increased its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce during the 1st quarter worth about $33,000. Clear Investment Research LLC increased its position 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 worth $28,000 after purchasing an additional 98 shares in the last quarter. Finally, Stephens Consulting LLC increased its position in shares of 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 purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now directly owns 828 shares in the company, valued at $202,702.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Insiders have sold a total of 62,376 shares of company stock valued at $15,878,005 over the last 90 days. 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 analyst reports. Raymond James increased their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Macquarie lowered their price objective on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Loop Capital raised their price objective on shares of Salesforce from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” 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 three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $305.55.

Salesforce Stock Performance

Shares of CRM opened at $255.32 on Wednesday. The firm’s 50 day moving average price is $253.61 and its two-hundred day moving average price is $267.11. 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 firm has a market cap of $247.41 billion, a P/E ratio of 45.92, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced 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 revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 earnings per share. On average, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

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.