Fairscale Capital LLC Has $1.20 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Fairscale Capital LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,381 shares of the CRM provider’s stock after selling 40 shares during the period. Salesforce comprises about 1.1% of Fairscale Capital LLC’s holdings, making the stock its 22nd largest position. Fairscale Capital LLC’s holdings in Salesforce were worth $1,201,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC increased its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Stephens Consulting LLC increased its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter valued at about $33,000. Finally, Godsey & Gibb Inc. increased its holdings in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. DA Davidson increased their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and increased their target price for the company from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $336.37.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,991 shares of company stock worth $43,333,238. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.9 %

NYSE CRM opened at $342.02 on Friday. The stock has a fifty day moving average of $294.61 and a 200-day moving average of $268.60. The stock has a market capitalization of $326.97 billion, a P/E ratio of 59.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 0.47%. Salesforce’s dividend payout ratio is presently 27.83%.

Salesforce 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.