Sax Wealth Advisors LLC Acquires 962 Shares of Salesforce, Inc. (NYSE:CRM)

Sax Wealth Advisors LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 102.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,899 shares of the CRM provider’s stock after buying an additional 962 shares during the period. Sax Wealth Advisors LLC’s holdings in Salesforce were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new stake in Salesforce during the fourth quarter worth about $51,000. RFG Advisory LLC raised its position in shares of Salesforce by 23.4% in the 1st quarter. RFG Advisory LLC now owns 6,438 shares of the CRM provider’s stock valued at $1,939,000 after buying an additional 1,220 shares in the last quarter. MJP Associates Inc. ADV bought a new stake in shares of Salesforce during the 1st quarter worth approximately $288,000. &PARTNERS boosted its position in shares of Salesforce by 229.3% during the 1st quarter. &PARTNERS now owns 4,330 shares of the CRM provider’s stock worth $1,304,000 after acquiring an additional 3,015 shares in the last quarter. Finally, Unique Wealth LLC increased its stake in Salesforce by 135.4% in the first quarter. Unique Wealth LLC now owns 3,646 shares of the CRM provider’s stock valued at $1,098,000 after acquiring an additional 2,097 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $293.07 on Friday. The business has a 50-day moving average price of $266.65 and a two-hundred day moving average price of $263.77. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $283.98 billion, a P/E ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 EPS. As a group, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s payout ratio is presently 28.78%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $315.00 target price (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Robert W. Baird upped their price objective on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Wedbush lifted their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Morgan Stanley increased their target price on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Finally, Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company 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 Salesforce stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now directly 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 this hyperlink. In related news, COO Brian Millham sold 2,037 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $248.75, for a total value of $506,703.75. Following the transaction, the chief operating officer now directly owns 1,947 shares in the company, valued at $484,316.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction 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 sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock valued at $21,429,961 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.