Harmony Asset Management LLC holds $339,000 position in Salesforce, Inc. (NYSE:CRM)

Harmony Asset Management LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM ​​- Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,320 shares of the CRM provider’s stock, valued at approximately $339,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Spartan Planning & Wealth Management boosted its position in shares of Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after buying an additional 625 shares during the period. Parnassus Investments LLC grew its position in shares of Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after purchasing an additional 18,397 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after acquiring an additional 194,224 shares. actions during the period. Chicago Partners Investment Group LLC grew its position in Salesforce by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares in the last quarter. Finally, XN LP boosted its stake in Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after buying an additional 90,616 shares during the period. 80.43% of the shares are held by hedge funds and other institutional investors.

Insider activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,223,020.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In other news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $202,702.68. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,891 shares of company stock worth $16,306,944. Company insiders own 3.20% of the company’s shares.

Analyst upgrades and downgrades

CRM has been the subject of several recent research reports. UBS Group upped their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Macquarie cut their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Barclays cut their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Oppenheimer raised their target price on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Bank of America reissued a “buy” rating and set a $325.00 price target on shares of Salesforce in a report on Friday, September 6th. Nine research 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. Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $306.00, based on data from MarketBeat.

See the latest inventory analysis on CRM

Salesforce Price Performance

CRM opened at $266.80 on Monday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. 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 company’s 50-day simple moving average is $254.14, and its 200-day simple moving average is $266.18. The stock has a market cap of $258.53 billion, a PE ratio of 47.99, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM ​​- Get your free report) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. In the same quarter last year, the business earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% year-over-year. As a group, sell-side analysts expect Salesforce, Inc. to post 7.55 EPS for the current year.

Salesforce announces dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a dividend of $1.60 on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, September 18. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

About Salesforce

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Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together around the world. The company’s services include sales for data storage, lead and progress tracking, opportunity forecasting, analytics and artificial intelligence insights, and delivery of quotes, contracts and invoices; and services that enable companies to deliver reliable and highly personalized customer support at scale.

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