Brooklyn Investment Group Acquires 346 Shares of Salesforce, Inc. (NYSE:CRM)

Brooklyn Investment Group lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,167 shares of the CRM provider’s stock after purchasing an additional 346 shares during the quarter. Salesforce accounts for 0.6% of Brooklyn Investment Group’s holdings, making the stock its 29th largest position. Brooklyn Investment Group’s holdings in Salesforce were worth $1,962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Piscataqua Savings Bank increased its stake in 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 acquiring an additional 96 shares during the period. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% during the 2nd 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 period. Stephens Consulting LLC grew its holdings in shares of 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 purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter worth $33,000. Finally, Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on CRM shares. Jefferies Financial Group raised their target price on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, November 11th. Phillip Securities reiterated an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Friday, September 20th. Morgan Stanley raised their target price on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $339.66.

Salesforce Trading Down 0.8 %

NYSE:CRM opened at $339.12 on Tuesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. 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 firm’s fifty day moving average is $296.26 and its 200-day moving average is $268.98. The firm has a market cap of $324.20 billion, a P/E ratio of 58.98, a P/E/G ratio of 3.10 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In related news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 approximately $202,702.68. This represents a 75.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total value of $884,081.52. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,464,622.79. This trade represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is currently owned by company insiders.

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.