Greenleaf Trust Acquires 805 Shares of Salesforce, Inc. (NYSE:CRM)

Greenleaf Trust lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 99,803 shares of the CRM provider’s stock after purchasing an additional 805 shares during the period. Salesforce comprises approximately 0.2% of Greenleaf Trust’s portfolio, making the stock its 27th largest holding. Greenleaf Trust’s holdings in Salesforce were worth $27,317,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CRM. Hoxton Planning & Management LLC bought a new position in shares of Salesforce in the 1st quarter worth $220,000. Sound Income Strategies LLC raised its holdings in Salesforce by 44.5% in the first quarter. Sound Income Strategies LLC now owns 815 shares of the CRM provider’s stock worth $245,000 after purchasing an additional 251 shares in the last quarter. Brookstone Capital Management lifted its position in shares of Salesforce by 1.6% during the first quarter. Brookstone Capital Management now owns 39,088 shares of the CRM provider’s stock valued at $11,773,000 after buying an additional 622 shares during the last quarter. Sovereign Financial Group Inc. boosted its holdings in shares of Salesforce by 5.2% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,147 shares of the CRM provider’s stock valued at $345,000 after buying an additional 57 shares in the last quarter. Finally, GoalVest Advisory LLC grew its position in shares of Salesforce by 200.6% in the 1st quarter. GoalVest Advisory LLC now owns 932 shares of the CRM provider’s stock worth $281,000 after buying an additional 622 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $30,251,239.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,251,239.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. The disclosure for this sale can be found here. Insiders have sold a total of 85,502 shares of company stock valued at $23,045,186 over the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 1.1 %

Shares of NYSE:CRM opened at $285.08 on Wednesday. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $268.12 and a two-hundred day moving average of $263.09. The stock has a market cap of $276.24 billion, a P/E ratio of 51.84, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current 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. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. Salesforce’s payout ratio is currently 28.78%.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Sanford C. Bernstein boosted their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Canaccord Genuity Group raised their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Bank of America restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Friday, September 6th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

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.