Salesforce, Inc. (NYSE:CRM) Shares Acquired by Hollencrest Capital Management

Hollencrest Capital Management raised its stake in Salesforce, Inc. (NYSE:CRM) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,402 shares of the CRM provider’s stock after purchasing an additional 375 shares during the quarter. Salesforce comprises about 1.4% of Hollencrest Capital Management’s investment portfolio, making the stock its 17th biggest position. Hollencrest Capital Management’s holdings in Salesforce were worth $34,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC raised 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 in the last quarter. Stephens Consulting LLC grew its stake in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the 2nd quarter worth $33,000. Finally, Godsey & Gibb Inc. increased its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 1.7 %

CRM stock traded up $5.40 during trading hours on Friday, hitting $316.18. The company’s stock had a trading volume of 1,902,400 shares, compared to its average volume of 6,233,232. The company has a market capitalization of $302.27 billion, a PE ratio of 54.73, a price-to-earnings-growth ratio of 2.70 and a beta of 1.29. The stock has a 50 day moving average price of $275.30 and a two-hundred day moving average price of $263.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $208.84 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 the consensus estimate 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 period in the prior year, the business posted $1.63 earnings per share. On average, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.51%. Salesforce’s payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Truist Financial reaffirmed a “buy” rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley boosted their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $313.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $29,932,595.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $29,932,595.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,573 shares of company stock worth $42,319,874 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.