Sachetta LLC Purchases 10,790 Shares of Salesforce, Inc. (NYSE:CRM)

Sachetta LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 5,505.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,986 shares of the CRM provider’s stock after buying an additional 10,790 shares during the quarter. Salesforce makes up about 1.2% of Sachetta LLC’s investment portfolio, making the stock its 17th largest position. Sachetta LLC’s holdings in Salesforce were worth $3,007,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Aviance Capital Partners LLC raised its position in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after acquiring an additional 33 shares in the last quarter. Umpqua Bank raised its holdings in 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 purchasing an additional 34 shares during the period. Nvwm LLC grew its holdings in Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares during the period. Prentice Wealth Management LLC increased its position in shares of Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after buying an additional 37 shares in the last quarter. Finally, Private Wealth Management Group LLC raised its stake in shares of Salesforce by 11.6% during the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Sanford C. Bernstein boosted their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a research note on Friday, August 30th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $325.36.

Insider Buying and Selling

In other news, insider Parker Harris sold 3,970 shares of Salesforce 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 approximately $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,173 shares of company stock worth $40,146,206. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.3 %

Shares of CRM stock opened at $323.29 on Wednesday. The company has a 50 day moving average price of $289.68 and a 200 day moving average price of $267.31. The stock has a market capitalization of $309.07 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. 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 fifty-two week low of $212.00 and a fifty-two week high of $348.86.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

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.