Blodgett Wealth Advisors LLC Has $719,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Blodgett Wealth Advisors LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,627 shares of the CRM provider’s stock after selling 60 shares during the quarter. Salesforce comprises 0.6% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 27th largest holding. Blodgett Wealth Advisors LLC’s holdings in Salesforce were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CRM. Prentice Wealth Management LLC lifted its stake in Salesforce by 1.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after purchasing an additional 37 shares during the last quarter. Fox Hill Wealth Management raised its holdings in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its position in Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the last quarter. Fulton Bank N.A. boosted its holdings in shares of Salesforce by 0.4% during the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after acquiring an additional 38 shares during the period. Finally, CRA Financial Services LLC increased its stake in shares of Salesforce by 3.4% during the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after purchasing an additional 38 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 942 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $264.78, for a total value of $249,422.76. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at $31,380,136.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Brian Millham sold 969 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total value of $245,767.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $264.78, for a total value of $249,422.76. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $31,380,136.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,110 shares of company stock valued at $20,292,760 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CRM shares. Raymond James increased their price objective on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. TD Cowen raised their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Oppenheimer increased their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $311.66.

Salesforce Stock Down 1.0 %

Shares of CRM stock traded down $2.99 on Tuesday, reaching $288.30. 2,260,902 shares of the company were exchanged, compared to its average volume of 6,375,786. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a market cap of $279.36 billion, a price-to-earnings ratio of 51.96, a PEG ratio of 2.61 and a beta of 1.30. The company has a 50-day moving average of $267.44 and a 200-day moving average of $263.18. 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 results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 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.