GoalVest Advisory LLC Buys 64 Shares of Salesforce, Inc. (NYSE:CRM)

GoalVest Advisory LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.2% during the third quarter, HoldingsChannel reports. The fund owned 951 shares of the CRM provider’s stock after acquiring an additional 64 shares during the quarter. GoalVest Advisory LLC’s holdings in Salesforce were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. M&G Plc bought a new position in Salesforce during the first quarter worth $2,178,000. First Foundation Advisors increased its position in 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 acquiring an additional 228 shares during the period. Edgestream Partners L.P. increased its position in Salesforce by 1,126.0% during the first quarter. Edgestream Partners L.P. now owns 9,367 shares of the CRM provider’s stock worth $2,821,000 after acquiring an additional 8,603 shares during the period. Covestor Ltd increased its position in Salesforce by 16.0% during the first quarter. Covestor Ltd now owns 950 shares of the CRM provider’s stock worth $286,000 after acquiring an additional 131 shares during the period. Finally, Rockport Wealth LLC bought a new position in Salesforce during the first quarter worth $598,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CRM shares. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. UBS Group boosted their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Wedbush upped their price target on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Finally, Loop Capital upped their price target on shares of Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

Salesforce Price Performance

NYSE CRM opened at $325.26 on Friday. The business has a 50 day simple moving average of $286.61 and a 200 day simple moving average of $266.62. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $310.95 billion, a price-to-earnings ratio of 56.57, a PEG ratio of 2.94 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced 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 was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s payout ratio is 27.83%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is owned by corporate insiders.

Salesforce Company 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.