Salesforce, Inc. (NYSE:CRM) Shares Acquired by GSG Advisors LLC

GSG Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,200 shares of the CRM provider’s stock after purchasing an additional 96 shares during the quarter. GSG Advisors LLC’s holdings in Salesforce were worth $325,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Reynders McVeigh Capital Management LLC boosted its stake in Salesforce by 12.4% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 905 shares of the CRM provider’s stock valued at $273,000 after purchasing an additional 100 shares during the period. NorthRock Partners LLC boosted its position in shares of Salesforce by 13.2% during the first quarter. NorthRock Partners LLC now owns 10,294 shares of the CRM provider’s stock worth $3,100,000 after buying an additional 1,201 shares during the period. Pointe Capital Management LLC increased its position in Salesforce by 13.1% in the 1st quarter. Pointe Capital Management LLC now owns 1,985 shares of the CRM provider’s stock valued at $598,000 after acquiring an additional 230 shares during the period. Meeder Advisory Services Inc. raised its stake in Salesforce by 6.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 11,735 shares of the CRM provider’s stock valued at $3,534,000 after acquiring an additional 713 shares in the last quarter. Finally, Verus Capital Partners LLC boosted its position in Salesforce by 4.2% during the 1st quarter. Verus Capital Partners LLC now owns 1,790 shares of the CRM provider’s stock worth $539,000 after acquiring an additional 72 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $321.95 on Friday. The company has a market cap of $307.78 billion, a price-to-earnings ratio of 55.99, a PEG ratio of 2.78 and a beta of 1.29. The business has a 50 day moving average price of $277.76 and a 200 day moving average price of $264.52. 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 twelve month low of $208.84 and a twelve month high of $322.81.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.63 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRM shares. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Friday, September 20th. Wells Fargo & Company increased their price objective on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Truist Financial reissued a “buy” rating and set a $315.00 target price (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Finally, Sanford C. Bernstein upped their price objective on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Nine research 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Brian Millham sold 4,056 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,573 shares of company stock worth $42,319,874 over the last three months. Company insiders own 3.20% of the company’s stock.

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.