Salesforce, Inc. (NYSE:CRM) Shares Sold by Executive Wealth Management LLC

Executive Wealth Management LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.3% in the third quarter, Holdings Channel reports. The fund owned 10,331 shares of the CRM provider’s stock after selling 136 shares during the period. Executive Wealth Management LLC’s holdings in Salesforce were worth $2,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Umpqua Bank raised its position in shares of Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after buying an additional 34 shares during the period. Nvwm LLC increased its stake in Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares during the last quarter. Prentice Wealth Management LLC raised its holdings in shares of Salesforce by 1.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares during the period. Private Wealth Management Group LLC lifted its stake in shares of Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after purchasing an additional 37 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CRM. Truist Financial reaffirmed a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Royal Bank of Canada restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. DA Davidson increased their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Finally, UBS Group increased their target price on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $313.37.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,573 shares of company stock valued at $42,319,874 over the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 3.6 %

Salesforce stock opened at $321.87 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 1 year low of $208.84 and a 1 year high of $322.81. The firm’s 50-day moving average is $277.76 and its 200-day moving average is $264.52. The company has a market cap of $307.71 billion, a P/E ratio of 55.98, a PEG ratio of 2.70 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.63 earnings per share. On average, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid 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 0.50%. Salesforce’s payout ratio is currently 27.83%.

Salesforce 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.