Embree Financial Group Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Embree Financial Group boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.5% in the 3rd quarter, Holdings Channel reports. The fund owned 4,478 shares of the CRM provider’s stock after buying an additional 272 shares during the period. Embree Financial Group’s holdings in Salesforce were worth $1,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Ruedi Wealth Management Inc. increased its holdings in shares of Salesforce by 186.7% during the 1st 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 in the last quarter. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in shares of Salesforce in the first quarter worth about $33,000. Clear Investment Research LLC boosted its stake 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 acquiring an additional 98 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM opened at $292.94 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The business’s fifty day moving average price is $266.65 and its 200 day moving average price is $263.49. The stock has a market capitalization of $283.86 billion, a PE ratio of 52.69, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during 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 quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 2,037 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total transaction of $506,703.75. Following the completion of the sale, the chief operating officer now owns 1,947 shares in the company, valued at $484,316.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,612 shares of company stock valued at $21,429,961. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. Truist Financial reiterated a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Finally, Wells Fargo & Company lifted their price target on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. Nine research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $311.66.

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.