Salesforce, Inc. (NYSE:CRM) Shares Acquired by Clear Investment Research LLC

Clear Investment Research LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 816.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110 shares of the CRM provider’s stock after buying an additional 98 shares during the period. Clear Investment Research LLC’s holdings in Salesforce were worth $28,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its position in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Red Tortoise LLC acquired a new position in Salesforce in the 1st quarter worth approximately $33,000. Stephens Consulting LLC raised 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 buying an additional 125 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $35,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.5 %

CRM opened at $254.57 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day simple moving average is $253.56 and its two-hundred day simple moving average is $268.14. The firm has a market capitalization of $246.68 billion, a price-to-earnings ratio of 45.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. Analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America reissued a “buy” rating and set a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. Jefferies Financial Group reduced their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Stifel Nicolaus boosted their price objective on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. TD Cowen lifted their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Finally, Piper Sandler upped their price objective on Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $304.41.

Insiders Place Their Bets

In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Salesforce news, insider Miguel Milano sold 2,934 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the transaction, the insider now owns 3,716 shares of the company’s stock, valued at $977,122.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The disclosure for this sale can be found here. Insiders have sold 62,376 shares of company stock valued at $15,878,005 over the last ninety days. Company insiders own 3.20% of the company’s stock.

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.