Greenleaf Trust Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Greenleaf Trust increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,803 shares of the CRM provider’s stock after purchasing an additional 805 shares during the quarter. Salesforce makes up about 0.2% of Greenleaf Trust’s holdings, making the stock its 27th biggest position. Greenleaf Trust’s holdings in Salesforce were worth $27,317,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. lifted its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank grew its position 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 acquiring an additional 96 shares during the period. Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter worth approximately $33,000. Clear Investment Research LLC lifted its stake in Salesforce by 816.7% in the second 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 last quarter. Finally, Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% during 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 period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CRM. JPMorgan Chase & Co. upped their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Robert W. Baird upped their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Loop Capital reiterated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Truist Financial restated a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 6,161 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,502 shares of company stock valued at $23,045,186. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $285.08 on Wednesday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business has a fifty day moving average of $268.12 and a 200 day moving average of $263.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $276.24 billion, a P/E ratio of 51.84, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

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.