Kolinsky Wealth Management LLC Acquires 59 Shares of Salesforce, Inc. (NYSE:CRM)

Kolinsky Wealth Management LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,360 shares of the CRM provider’s stock after buying an additional 59 shares during the period. Kolinsky Wealth Management LLC’s holdings in Salesforce were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Old Port Advisors bought a new stake in shares of Salesforce during the 1st quarter worth about $226,000. GAMMA Investing LLC boosted its holdings in shares of Salesforce by 51.2% during the second quarter. GAMMA Investing LLC now owns 7,036 shares of the CRM provider’s stock worth $1,809,000 after acquiring an additional 2,382 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of Salesforce by 11.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 27,823 shares of the CRM provider’s stock valued at $7,153,000 after purchasing an additional 2,915 shares during the last quarter. M&R Capital Management Inc. increased its stake in shares of Salesforce by 38.9% during the second quarter. M&R Capital Management Inc. now owns 7,491 shares of the CRM provider’s stock worth $1,926,000 after purchasing an additional 2,099 shares during the period. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its holdings in Salesforce by 0.3% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 27,449 shares of the CRM provider’s stock worth $7,161,000 after purchasing an additional 79 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Salesforce stock opened at $329.99 on Friday. The stock’s 50 day moving average is $302.12 and its 200 day moving average is $270.65. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The firm has a market cap of $315.47 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29. 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 (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company 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 company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.63 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.54 EPS for the current year.

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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce 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 completion of the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock valued at $42,475,538 in the last ninety days. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Robert W. Baird increased their price objective on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Bank of America raised their price target on shares of Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company lifted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Finally, JMP Securities lifted their price target on shares of Salesforce from $342.00 to $450.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $341.89.

About Salesforce

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.