Westfuller Advisors LLC Acquires Shares of 1,021 Salesforce, Inc. (NYSE:CRM)

Westfuller Advisors LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,021 shares of the CRM provider’s stock, valued at approximately $280,000.

Several other institutional investors have also recently bought and sold shares of CRM. M&G Plc bought a new position in Salesforce in the 1st quarter valued at $2,178,000. First Foundation Advisors raised its position in shares of Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after acquiring an additional 228 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Salesforce by 1,126.0% during the first quarter. Edgestream Partners L.P. now owns 9,367 shares of the CRM provider’s stock worth $2,821,000 after acquiring an additional 8,603 shares during the last quarter. Covestor Ltd raised its position in shares of Salesforce by 16.0% during the first quarter. Covestor Ltd now owns 950 shares of the CRM provider’s stock worth $286,000 after acquiring an additional 131 shares during the last quarter. Finally, Rockport Wealth LLC bought a new stake in shares of Salesforce during the first quarter worth $598,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. Wedbush boosted their target price on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Oppenheimer restated an “outperform” rating and set a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Finally, Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $322.51.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 4,056 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,373 shares of company stock worth $41,250,680. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $325.26 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The firm has a market capitalization of $310.95 billion, a PE ratio of 56.57, a PEG ratio of 2.94 and a beta of 1.29. 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 business’s 50-day simple moving average is $286.61 and its 200 day simple moving average is $266.62.

Salesforce (NYSE:CRM) last released its 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 quarter in the prior year, the company posted $1.63 earnings per share. Salesforce’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is presently 27.83%.

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.