Shum Financial Group Inc. Acquires Shares of 3,893 Salesforce, Inc. (NYSE:CRM)

Shum Financial Group Inc. bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,893 shares of the CRM provider’s stock, valued at approximately $1,158,000.

Several other hedge funds have also modified their holdings of the business. Piscataqua Savings Bank raised its position in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC increased its holdings in shares of 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. Godsey & Gibb Inc. lifted 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 purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the second quarter worth about $33,000. Finally, Stephens Consulting LLC grew its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRM. Stifel Nicolaus boosted their price target on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Raymond James upped their target price on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. Finally, Truist Financial increased their price objective on shares of Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a research note on Monday. Eight research 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 company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $339.66.

Salesforce Trading Up 0.5 %

Shares of NYSE:CRM traded up $1.64 during trading on Tuesday, reaching $340.75. 522,485 shares of the stock were exchanged, compared to its average volume of 6,279,484. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The firm’s 50-day moving average price is $296.26 and its 200 day moving average price is $268.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $325.76 billion, a price-to-earnings ratio of 58.98, a price-to-earnings-growth ratio of 3.10 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 (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 719 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 3,528 shares of the business’s 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 sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. This represents a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,510 shares of company stock valued at $42,475,538. Insiders own 3.20% of the company’s stock.

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.