Wahed Invest LLC Has $6.17 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Wahed Invest LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,526 shares of the CRM provider’s stock after acquiring an additional 891 shares during the quarter. Salesforce comprises about 1.1% of Wahed Invest LLC’s investment portfolio, making the stock its 14th largest position. Wahed Invest LLC’s holdings in Salesforce were worth $6,166,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Piscataqua Savings Bank raised its stake in shares of 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 buying an additional 96 shares during the last quarter. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $27,000. Clear Investment Research LLC boosted its position 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 worth $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. increased its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the second quarter valued at about $33,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,982 shares of company stock valued at $41,591,457. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $361.14 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $345.25 billion, a price-to-earnings ratio of 59.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. The firm has a 50 day moving average of $308.26 and a 200 day moving average of $272.43.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.31%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.44%. Salesforce’s dividend payout ratio is 26.32%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Salesforce from $325.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a report on Friday, August 30th. Royal Bank of Canada raised their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday. Needham & Company LLC increased their price target on Salesforce from $345.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.86.

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.