Salesforce, Inc. (NYSE:CRM) Shares Purchased by Essex LLC

Essex LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,814 shares of the CRM provider’s stock after acquiring an additional 60 shares during the quarter. Essex LLC’s holdings in Salesforce were worth $497,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ruedi Wealth Management Inc. lifted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank raised its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce in the 1st quarter worth approximately $33,000. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter valued at approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Truist Financial restated a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. DA Davidson raised their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Loop Capital reiterated a “hold” rating and issued a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Robert W. Baird raised their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Citigroup increased their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.66.

Salesforce Stock Up 0.6 %

Shares of Salesforce stock opened at $292.94 on Friday. The stock has a 50-day simple moving average of $266.65 and a 200-day simple moving average of $263.49. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market cap of $283.86 billion, a price-to-earnings ratio of 52.69, a P/E/G ratio of 2.61 and a beta of 1.30. 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 earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce’s payout ratio is currently 28.78%.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 2,037 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75. Following the completion of the sale, the chief operating officer now directly owns 1,947 shares of the company’s stock, valued at approximately $484,316.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, COO Brian Millham sold 2,037 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75. Following the completion of the transaction, the chief operating officer now owns 1,947 shares of the company’s stock, valued at $484,316.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction dated 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 directly owns 117,581 shares in the company, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock worth $21,429,961 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.