Nisa Investment Advisors LLC Lowers Position in Salesforce, Inc. (NYSE:CRM)

Nisa Investment Advisors LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,057 shares of the CRM provider’s stock after selling 1,071 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Salesforce were worth $54,016,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. XN LP increased its holdings in shares of Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after buying an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. increased its stake in Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after acquiring an additional 2,589 shares during the last quarter. M&G Plc bought a new position in Salesforce in the first quarter valued at $2,178,000. First Foundation Advisors lifted its stake in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares during the last quarter. Finally, Elevated Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter worth about $523,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Stifel Nicolaus lifted their price target on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Finally, Truist Financial restated a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

Salesforce Price Performance

Shares of CRM opened at $293.81 on Tuesday. Salesforce, Inc. has a fifty-two week low of $197.08 and a fifty-two week high of $318.71. The firm’s 50-day simple moving average is $270.30 and its two-hundred day simple moving average is $262.75. The stock has a market cap of $284.70 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company 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 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Buying and Selling at Salesforce

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares in the company, valued at $376,624.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now directly owns 1,363 shares of the company’s stock, valued at $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 1,400 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $251.62, for a total value of $352,268.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,581 shares of company stock worth $22,616,017. 3.20% of the stock is owned by corporate insiders.

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.