Resonant Capital Advisors LLC Buys 3,763 Shares of Salesforce, Inc. (NYSE:CRM)

Resonant Capital Advisors LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 109.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,201 shares of the CRM provider’s stock after purchasing an additional 3,763 shares during the period. Resonant Capital Advisors LLC’s holdings in Salesforce were worth $1,973,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. XN LP increased its position in shares of Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the period. Atomi Financial Group Inc. grew its position in Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after acquiring an additional 2,589 shares during the last quarter. M&G Plc bought a new position in Salesforce in the first quarter valued at about $2,178,000. First Foundation Advisors grew its position in Salesforce by 38.0% in the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after acquiring an additional 228 shares during the last quarter. Finally, St. Johns Investment Management Company LLC grew its position in Salesforce by 4.1% in the first quarter. St. Johns Investment Management Company LLC now owns 5,834 shares of the CRM provider’s stock valued at $1,757,000 after acquiring an additional 228 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Truist Financial reiterated a “buy” rating and issued a $315.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Canaccord Genuity Group boosted their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Phillip Securities restated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $311.66.

Salesforce Price Performance

Shares of NYSE CRM opened at $292.94 on Friday. The stock’s 50-day simple moving average is $266.65 and its two-hundred day simple moving average is $263.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The firm has a market capitalization of $283.86 billion, a P/E ratio of 52.69, a P/E/G 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the company earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s payout ratio is 28.78%.

Insiders Place Their Bets

In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 80,612 shares of company stock worth $21,429,961. 3.20% of the stock is currently owned by company insiders.

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.