Nations Financial Group Inc. IA ADV Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Nations Financial Group Inc. IA ADV raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,704 shares of the CRM provider’s stock after purchasing an additional 58 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Salesforce were worth $1,835,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sheets Smith Wealth Management grew its holdings in shares of Salesforce by 35.1% during the first quarter. Sheets Smith Wealth Management now owns 3,351 shares of the CRM provider’s stock worth $1,009,000 after buying an additional 871 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Salesforce by 2.3% during the first quarter. TD Asset Management Inc now owns 807,993 shares of the CRM provider’s stock worth $243,351,000 after buying an additional 18,468 shares in the last quarter. Eagle Bay Advisors LLC grew its holdings in shares of Salesforce by 136.3% during the first quarter. Eagle Bay Advisors LLC now owns 1,021 shares of the CRM provider’s stock worth $308,000 after buying an additional 589 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Salesforce by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 1,050,700 shares of the CRM provider’s stock worth $316,450,000 after buying an additional 54,184 shares in the last quarter. Finally, Angeles Wealth Management LLC grew its holdings in shares of Salesforce by 14.3% during the first quarter. Angeles Wealth Management LLC now owns 4,238 shares of the CRM provider’s stock worth $1,276,000 after buying an additional 530 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the transaction, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were 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 $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock worth $41,250,680 over the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Wedbush lifted their price target on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Citigroup raised their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Loop Capital reissued a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research report on Thursday, September 19th. Finally, Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.80.

Salesforce Stock Up 6.1 %

Shares of NYSE:CRM opened at $341.74 on Tuesday. 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 fifty day simple moving average of $277.76 and a 200 day simple moving average of $264.35. The firm has a market cap of $326.70 billion, a PE ratio of 59.43, a price-to-earnings-growth ratio of 2.91 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $211.76 and a 12-month high of $344.88.

Salesforce (NYSE:CRM) last released its earnings results 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. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s payout ratio is 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.