Salesforce, Inc. (NYSE:CRM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 498,650 shares of the CRM provider’s stock after selling 10,804 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.05% of Salesforce worth $136,485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. XN LP grew its holdings in shares of Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after purchasing an additional 2,589 shares during the period. M&G Plc purchased a new stake in shares of Salesforce in the first quarter worth approximately $2,178,000. First Foundation Advisors boosted its holdings in shares of Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares during the period. Finally, St. Johns Investment Management Company LLC grew its position in Salesforce by 4.1% during the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.6 %

Shares of NYSE CRM traded up $1.83 during midday trading on Friday, hitting $292.94. The stock had a trading volume of 3,087,902 shares, compared to its average volume of 6,414,292. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The business’s 50 day moving average is $266.65 and its 200-day moving average is $263.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $283.86 billion, a P/E ratio of 52.69, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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 business 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 company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. As a group, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Brian Millham sold 8,427 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,612 shares of company stock worth $21,429,961 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRM. Robert W. Baird lifted their price objective on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Canaccord Genuity Group increased their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. Truist Financial restated 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. Finally, Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $311.66.

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.