1,076 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,076 shares of the CRM provider’s stock, valued at approximately $324,000.

Other hedge funds have also recently modified their holdings of the company. Marks Group Wealth Management Inc raised its position in shares of Salesforce by 0.7% during the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after purchasing an additional 257 shares during the last quarter. Spartan Planning & Wealth Management raised its holdings in Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after acquiring an additional 625 shares during the last quarter. Roman Butler Fullerton & Co. raised its holdings in Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after acquiring an additional 105 shares during the last quarter. Parnassus Investments LLC raised its holdings in Salesforce by 0.3% in the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after acquiring an additional 18,397 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after acquiring an additional 194,224 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 897 shares of Salesforce 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 sale, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the sale, the chief executive officer now directly owns 12,407,327 shares in the company, valued at approximately $2,688,171,467.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The disclosure for this sale can be found here. Insiders have sold 338,273 shares of company stock worth $90,159,503 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 2.5 %

Shares of CRM traded down $6.28 during midday trading on Wednesday, reaching $249.78. The stock had a trading volume of 4,914,895 shares, compared to its average volume of 6,817,658. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company’s fifty day simple moving average is $252.22 and its two-hundred day simple moving average is $275.50. The company has a market cap of $242.04 billion, a price-to-earnings ratio of 44.92, a PEG ratio of 2.23 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.64%. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CRM. Morgan Stanley cut their price objective on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Raymond James reissued a “strong-buy” rating and issued a $325.00 price target (down previously from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. Citigroup dropped their price target on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Truist Financial reissued a “buy” rating and issued a $300.00 price target (down previously from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. Finally, Wells Fargo & Company dropped their price target on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

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.