Apollon Wealth Management LLC Acquires 1,434 Shares of Salesforce, Inc. (NYSE:CRM)

Apollon Wealth Management LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,801 shares of the CRM provider’s stock after purchasing an additional 1,434 shares during the quarter. Apollon Wealth Management LLC’s holdings in Salesforce were worth $7,062,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Godsey & Gibb Inc. boosted its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter valued at $33,000. Finally, Stephens Consulting LLC boosted its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, 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 value of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 value of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 144,373 shares of company stock worth $41,250,680 in the last 90 days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CRM shares. JMP Securities reissued a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Citigroup increased their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. DA Davidson increased their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Loop Capital reissued a “hold” rating and set a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Finally, Roth Mkm restated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $314.80.

Salesforce Stock Performance

Salesforce stock opened at $341.74 on Tuesday. The firm’s fifty day moving average price is $277.76 and its 200-day moving average price is $264.35. 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 stock has a market cap of $326.70 billion, a P/E ratio of 59.43, a price-to-earnings-growth ratio of 2.91 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $211.76 and a fifty-two week high of $344.88.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. On average, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

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.