E Fund Management Hong Kong Co. Ltd. Purchases Shares of 229 Salesforce, Inc. (NYSE:CRM)

E Fund Management Hong Kong Co. Ltd. purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 229 shares of the CRM provider’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Tempus Wealth Planning LLC grew its position in shares of Salesforce by 5.6% in the 1st quarter. Tempus Wealth Planning LLC now owns 937 shares of the CRM provider’s stock valued at $282,000 after acquiring an additional 50 shares during the period. Marshall Financial Group LLC bought a new position in shares of Salesforce in the 1st quarter valued at about $259,000. Veracity Capital LLC grew its position in shares of Salesforce by 33.1% in the 1st quarter. Veracity Capital LLC now owns 1,366 shares of the CRM provider’s stock valued at $411,000 after acquiring an additional 340 shares during the period. FORVIS Wealth Advisors LLC grew its position in shares of Salesforce by 18.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 1,650 shares of the CRM provider’s stock valued at $497,000 after acquiring an additional 257 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its position in shares of Salesforce by 39.9% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 12,979 shares of the CRM provider’s stock valued at $3,909,000 after acquiring an additional 3,704 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,585,731.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Salesforce news, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,585,731.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 sold a total of 148,303 shares of company stock worth $42,024,385 in the last three months. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

CRM stock opened at $296.62 on Thursday. The company has a 50 day simple moving average of $271.75 and a 200 day simple moving average of $263.02. The stock has a market cap of $283.57 billion, a price-to-earnings ratio of 51.59, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $198.66 and a 1 year high of $318.71. 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 released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during 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 firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Analyst Ratings Changes

A number of research analysts have recently commented on CRM shares. Oppenheimer reissued an “outperform” rating and issued a $330.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. UBS Group lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Nine 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

Salesforce Company 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.