Stonebrook Private Inc. Buys 152 Shares of Salesforce, Inc. (NYSE:CRM)

Stonebrook Private Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 2.8% during the third quarter, HoldingsChannel.com reports. The firm owned 5,645 shares of the CRM provider’s stock after purchasing an additional 152 shares during the period. Stonebrook Private Inc.’s holdings in Salesforce were worth $1,545,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Piscataqua Savings Bank grew its holdings in shares of 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 acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $342.12 on Friday. The stock’s 50 day moving average is $294.61 and its 200-day moving average is $268.66. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month 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 firm has a market capitalization of $327.07 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 3.04 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.63 earnings per share. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,991 shares of company stock valued at $43,333,238 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. JMP Securities lifted their price target on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a report on Friday. Citigroup lifted their target price on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Morgan Stanley upped their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Truist Financial restated a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, Jefferies Financial Group increased their price objective on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $336.37.

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.