Sachetta LLC Has $3.01 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Sachetta LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 5,505.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,986 shares of the CRM provider’s stock after purchasing an additional 10,790 shares during the period. Salesforce makes up 1.2% of Sachetta LLC’s holdings, making the stock its 17th biggest holding. Sachetta LLC’s holdings in Salesforce were worth $3,007,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Piscataqua Savings Bank raised its holdings 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 buying an additional 96 shares in the last quarter. Clear Investment Research LLC grew 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 purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC increased 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 purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. boosted its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. TD Cowen increased their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Stifel Nicolaus upped their price objective on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Evercore ISI reiterated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Finally, Canaccord Genuity Group upped their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $325.36.

Salesforce Trading Up 0.3 %

NYSE:CRM opened at $323.29 on Wednesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. 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 company has a 50-day moving average price of $289.68 and a 200-day moving average price of $267.31. The stock has a market cap of $309.07 billion, a price-to-earnings ratio of 56.22, a P/E/G ratio of 2.94 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.63 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts predict that Salesforce, Inc. will post 7.55 EPS for the current 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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the transaction, the insider now directly owns 3,716 shares in the company, valued at $977,122.20. This trade represents a 44.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Brian Millham sold 4,056 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,173 shares of company stock valued at $40,146,206. 3.20% of the stock is owned by corporate insiders.

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.