Garden State Investment Advisory Services LLC Buys 717 Shares of Salesforce, Inc. (NYSE:CRM)

Garden State Investment Advisory Services LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 28.0% during the 3rd quarter, Holdings Channel reports. The firm owned 3,274 shares of the CRM provider’s stock after purchasing an additional 717 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Salesforce were worth $898,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after buying an additional 57,825 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Salesforce by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after acquiring an additional 96,381 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miguel Milano sold 719 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,510 shares of company stock valued at $42,475,538 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research reports. Phillip Securities reiterated an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Loop Capital upped their price objective on Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group upped their price target on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Robert W. Baird raised their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $343.89.

Salesforce Stock Up 0.5 %

CRM stock opened at $331.63 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $317.04 billion, a P/E ratio of 57.39, a P/E/G 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 business has a 50-day moving average of $302.12 and a 200-day moving average of $270.49.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date 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 (DPR) is presently 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.