Salesforce, Inc. (NYSE:CRM) Shares Bought by Riversedge Advisors LLC

Riversedge Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,920 shares of the CRM provider’s stock after purchasing an additional 122 shares during the period. Riversedge Advisors LLC’s holdings in Salesforce were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Ruedi Wealth Management Inc. raised its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC purchased a new stake in Salesforce during the first quarter worth $33,000. Finally, Stephens Consulting LLC increased 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 buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.2 %

Shares of Salesforce stock traded up $0.46 during trading hours on Thursday, hitting $291.32. The company’s stock had a trading volume of 1,037,399 shares, compared to its average volume of 6,421,925. The stock has a market cap of $282.29 billion, a price-to-earnings ratio of 52.38, a P/E/G 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, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The firm has a fifty day moving average of $265.00 and a 200-day moving average of $263.65.

Salesforce (NYSE:CRM) last announced its 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 during 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,429,961 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRM. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Truist Financial reiterated a “buy” rating and set a $315.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Stifel Nicolaus boosted their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

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.