Salesforce, Inc. (NYSE:CRM) Shares Acquired by Motiv8 Investments LLC

Motiv8 Investments LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 29.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,136 shares of the CRM provider’s stock after acquiring an additional 711 shares during the period. Motiv8 Investments LLC’s holdings in Salesforce were worth $858,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after buying an additional 37 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the period. Fulton Bank N.A. boosted its position in shares of Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after buying an additional 38 shares during the period. CRA Financial Services LLC grew its holdings in shares of Salesforce by 3.4% during the third quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock valued at $318,000 after buying an additional 38 shares in the last quarter. Finally, Boomfish Wealth Group LLC raised its position in Salesforce by 0.4% during the third quarter. Boomfish Wealth Group LLC now owns 9,312 shares of the CRM provider’s stock valued at $2,549,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. BMO Capital Markets lifted their target price on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.51.

Salesforce Stock Performance

Shares of CRM traded up $3.70 on Friday, reaching $290.46. 3,351,560 shares of the stock traded hands, compared to its average volume of 6,334,725. The stock’s 50-day moving average price is $269.73 and its 200-day moving average price is $263.05. 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 $281.46 billion, a price-to-earnings ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

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

Salesforce Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total value of $1,080,576.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,251,239.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Brian Millham sold 6,161 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,251,239.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,781 shares of company stock worth $23,696,593 over the last quarter. Company insiders own 3.20% of the company’s stock.

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.