Prosperity Financial Group Inc. Purchases 46 Shares of Salesforce, Inc. (NYSE:CRM)

Prosperity Financial Group Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,024 shares of the CRM provider’s stock after acquiring an additional 46 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Salesforce were worth $280,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC raised its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Stephens Consulting LLC lifted its position in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter worth approximately $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 worth $33,000 after acquiring an additional 90 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $342.02 on Monday. The stock’s 50 day moving average price is $294.61 and its two-hundred day moving average price is $268.53. The stock has a market capitalization of $326.97 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 3.10 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. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86.

Salesforce (NYSE:CRM) last posted its quarterly earnings results 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 net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is 27.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial reaffirmed a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Morgan Stanley boosted their price target on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Citigroup raised their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Jefferies Financial Group upped their target price on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Eight equities 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $336.37.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,991 shares of company stock valued at $43,333,238 over the last ninety days. 3.20% of the stock is owned by company insiders.

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.