Salesforce, Inc. (NYSE:CRM) Stock Position Lowered by Realta Investment Advisors

Realta Investment Advisors lessened its position in Salesforce, Inc. (NYSE:CRM) by 85.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 863 shares of the CRM provider’s stock after selling 4,942 shares during the period. Realta Investment Advisors’ holdings in Salesforce were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Vanguard Group Inc. raised its position in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the period. Capital Research Global Investors raised its position in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. Capital International Investors raised its position in shares of Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the period. Legal & General Group Plc raised its position in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the transaction, the insider now owns 119,402 shares of the company’s stock, valued at $35,586,572.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. 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. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,303 shares of company stock valued at $42,024,385 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $294.72 on Friday. The business has a 50 day moving average price of $273.02 and a 200 day moving average price of $263.27. Salesforce, Inc. has a twelve month low of $204.69 and a twelve month high of $318.71. The company has a market cap of $281.75 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 2.68 and a beta of 1.29. 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 (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating 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 firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRM. Bank of America reaffirmed a “buy” rating and set a $325.00 target price on shares of Salesforce in a research report on Friday, September 6th. Phillip Securities reissued an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Truist Financial reissued a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Nine 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $313.37.

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.