Carrera Capital Advisors Takes Position in Salesforce, Inc. (NYSE:CRM)

Carrera Capital Advisors acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 763 shares of the CRM provider’s stock, valued at approximately $209,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its position in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. GQG Partners LLC acquired a new stake in Salesforce in the first quarter worth approximately $910,220,000. Swedbank AB bought a new position in Salesforce during the 1st quarter valued at $874,748,000. Veritas Asset Management LLP bought a new stake in shares of Salesforce in the 3rd quarter worth $733,805,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CRM shares. Truist Financial reiterated a “buy” rating and issued a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. DA Davidson lifted their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and upped their target price for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $316.37.

Salesforce Price Performance

Shares of CRM stock traded up $3.41 during trading hours on Tuesday, reaching $345.14. The stock had a trading volume of 3,337,955 shares, compared to its average volume of 6,287,816. Salesforce, Inc. has a 12 month low of $211.76 and a 12 month high of $348.86. 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 firm has a market capitalization of $329.95 billion, a PE ratio of 59.98, a PEG ratio of 2.91 and a beta of 1.29. The stock’s fifty day simple moving average is $279.53 and its 200 day simple moving average is $264.83.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction 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 owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is currently owned by 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.