Salesforce, Inc. (NYSE:CRM) Shares Purchased by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 34.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,362 shares of the CRM provider’s stock after purchasing an additional 601 shares during the period. Worth Financial Advisory Group LLC’s holdings in Salesforce were worth $607,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $26,000. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank raised its position 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 worth $26,000 after buying an additional 96 shares during the period. Red Tortoise LLC purchased a new position in shares of Salesforce in the 1st quarter worth $33,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Salesforce in the 4th quarter worth $35,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 0.4 %

NYSE:CRM traded down $0.98 during trading hours on Tuesday, hitting $264.30. 5,274,589 shares of the stock traded hands, compared to its average volume of 6,538,861. The firm has a 50 day moving average price of $252.79 and a 200 day moving average price of $271.82. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market cap of $256.11 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the business posted $1.15 earnings per share. Salesforce’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Transactions at Salesforce

In other Salesforce news, insider Miguel Milano sold 2,934 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, insider Miguel Milano sold 2,934 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director G Mason Morfit bought 428,000 shares of the stock in a transaction on Monday, June 3rd. The shares were acquired at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the completion of the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 123,764 shares of company stock valued at $30,102,367. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Salesforce in a research report on Friday, May 24th. UBS Group cut their price objective on Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Morgan Stanley cut their price objective on Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $300.00 target price (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.38.

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.