Annapolis Financial Services LLC Buys 80 Shares of Salesforce, Inc. (NYSE:CRM)

Annapolis Financial Services LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 135.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139 shares of the CRM provider’s stock after buying an additional 80 shares during the quarter. Annapolis Financial Services LLC’s holdings in Salesforce were worth $38,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kapitalo Investimentos Ltda bought a new stake in Salesforce during the fourth quarter worth about $51,000. Ferguson Wellman Capital Management Inc. increased its holdings in Salesforce by 11.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 1,311 shares of the CRM provider’s stock valued at $395,000 after purchasing an additional 138 shares in the last quarter. Foster Group Inc. acquired a new stake in Salesforce during the 1st quarter valued at $296,000. Montecito Bank & Trust raised its position in Salesforce by 57.5% in the 1st quarter. Montecito Bank & Trust now owns 2,004 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 732 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in shares of Salesforce by 19.8% during the first quarter. Wedmont Private Capital now owns 15,904 shares of the CRM provider’s stock worth $4,809,000 after purchasing an additional 2,633 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, 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 transaction of $295,425.90. Following the sale, the insider now owns 20,556 shares in the company, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider R David Schmaier sold 1,155 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the completion of the sale, the insider now owns 20,556 shares in the company, valued at $5,257,813.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,429,961 in the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $290.89 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $281.87 billion, a price-to-earnings ratio of 52.32, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The stock’s 50-day moving average is $265.00 and its 200-day moving average is $263.65. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

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, topping analysts’ consensus estimates of $2.36 by $0.20. The firm 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 was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 EPS. Equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BMO Capital Markets lifted their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Cowen upped their target price on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. UBS Group increased their price target 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. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Truist Financial reiterated a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Nine 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 stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

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.