Infrastructure Capital Advisors LLC Purchases New Holdings in Salesforce, Inc. (NYSE:CRM)

Infrastructure Capital Advisors LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 100 shares of the CRM provider’s stock, valued at approximately $27,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the 2nd quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

CRM opened at $330.01 on Friday. The firm has a market cap of $315.49 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $300.85 and its 200 day moving average price is $270.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s payout ratio is 27.83%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. FBN Securities raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial boosted their price target on Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday. Wedbush upped their target price on Salesforce from $325.00 to $375.00 and gave the company an “outperform” rating in a research note on Monday. Finally, BMO Capital Markets upped their target price on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $341.89.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 3,528 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total value of $884,081.52. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $29,464,622.79. This represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock worth $42,475,538 over the last three months. Company insiders own 3.20% of the company’s stock.

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.