Ritholtz Wealth Management Has $3.55 Million Stake in Salesforce, Inc. (NYSE:CRM)

Ritholtz Wealth Management grew its stake in Salesforce, Inc. (NYSE:CRM) by 1.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,977 shares of the CRM provider’s stock after buying an additional 160 shares during the period. Ritholtz Wealth Management’s holdings in Salesforce were worth $3,552,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. grew its holdings in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank grew its stake 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 buying an additional 96 shares during the last quarter. Clear Investment Research LLC raised 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 worth $28,000 after acquiring an additional 98 shares during the period. Red Tortoise LLC acquired a new position in Salesforce during the 1st quarter worth $33,000. Finally, Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R David Schmaier sold 1,155 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at $5,257,813.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,612 shares of company stock valued at $21,283,087. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. DA Davidson boosted their price objective on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their target price for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Stifel Nicolaus raised their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wedbush boosted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Trading Down 0.7 %

Shares of CRM opened at $288.10 on Friday. The stock’s fifty day simple moving average is $261.93 and its 200-day simple moving average is $263.88. 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 $275.42 billion, a PE ratio of 50.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The company 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 company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is currently 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.