Chris Bulman Inc Acquires Shares of 722 Salesforce, Inc. (NYSE:CRM)

Chris Bulman Inc acquired a new position in Salesforce, Inc. (NYSE:CRM) during the second quarter, Holdings Channel.com reports. The firm acquired 722 shares of the CRM provider’s stock, valued at approximately $186,000.

Other institutional investors have also recently made changes to their positions in the company. Ruedi Wealth Management Inc. raised its stake in shares of 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 buying an additional 56 shares during the last quarter. Piscataqua Savings Bank grew its holdings in Salesforce by 2,400.0% during the second 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. Red Tortoise LLC purchased a new position in Salesforce during the first quarter valued at approximately $33,000. Stephens Consulting LLC lifted its holdings in Salesforce by 3,125.0% in 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 period. Finally, Creekmur Asset Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, Director Craig Conway sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total value of $1,437,840.00. Following the completion of the transaction, the director now owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Craig Conway sold 6,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $239.64, for a total value of $1,437,840.00. Following the transaction, the director now directly owns 6,855 shares of the company’s stock, valued at $1,642,732.20. The disclosure for this sale can be found here. Insiders sold 83,692 shares of company stock worth $21,006,957 in the last three months. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of CRM opened at $243.97 on Friday. The firm has a 50-day simple moving average of $254.52 and a two-hundred day simple moving average of $269.68. The stock has a market cap of $236.41 billion, a PE ratio of 43.88, a P/E/G ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $193.68 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 1.11.

Salesforce (NYSE:CRM) last posted its earnings results 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. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.52 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.66%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRM. Oppenheimer lifted their target price on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Piper Sandler upped their price objective on shares of Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research 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 note on Thursday, August 29th. Bank of America reissued a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday. Finally, DA Davidson upped 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. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $304.41.

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.