Salesforce, Inc. (NYSE:CRM) Holdings Raised by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,014 shares of the CRM provider’s stock after purchasing an additional 219 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Salesforce were worth $4,823,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ancora Advisors LLC raised its position in Salesforce by 22.1% during the third quarter. Ancora Advisors LLC now owns 1,287 shares of the CRM provider’s stock valued at $261,000 after buying an additional 233 shares during the period. Hodges Capital Management Inc. acquired a new position in Salesforce in the 3rd quarter worth about $203,000. Advisors Asset Management Inc. increased its position in Salesforce by 3.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,824 shares of the CRM provider’s stock worth $2,398,000 after purchasing an additional 401 shares during the last quarter. Axxcess Wealth Management LLC increased its position in Salesforce by 82.0% in the 3rd quarter. Axxcess Wealth Management LLC now owns 10,746 shares of the CRM provider’s stock worth $2,179,000 after purchasing an additional 4,843 shares during the last quarter. Finally, AXQ Capital LP acquired a new position in Salesforce in the 3rd quarter worth about $831,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRM shares. TD Cowen dropped their target price on Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Barclays dropped their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Argus upped their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Citigroup decreased their price target on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Finally, Piper Sandler decreased their price target on Salesforce from $300.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $216.66, for a total value of $3,249,900.00. Following the completion of the transaction, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the sale, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at $2,688,171,467.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 494,952 shares of company stock valued at $135,205,453. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock traded up $4.56 during mid-day trading on Wednesday, reaching $260.75. The stock had a trading volume of 2,481,004 shares, compared to its average volume of 6,927,199. The firm’s 50 day simple moving average is $259.03 and its 200 day simple moving average is $276.43. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $252.67 billion, a PE ratio of 46.90, a P/E/G ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the company earned $1.15 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.61%. Salesforce’s payout ratio is presently 7.19%.

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.