Brown Financial Advisors Invests $476,000 in Salesforce, Inc. (NYSE:CRM)

Brown Financial Advisors bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,739 shares of the CRM provider’s stock, valued at approximately $476,000.

Other large investors have also modified their holdings of the company. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the third quarter worth $1,215,000. Prime Capital Investment Advisors LLC grew its holdings in shares of Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC grew its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the period. AIA Group Ltd grew its holdings in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. This trade represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,498 shares of company stock worth $40,983,349. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $348.84 on Wednesday. The firm has a market capitalization of $333.84 billion, a P/E ratio of 57.38, a P/E/G ratio of 3.27 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $311.53 and its two-hundred day moving average is $273.32.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.62 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. TD Cowen upped their price objective on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Piper Sandler upped their target price on shares of Salesforce from $325.00 to $395.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, Scotiabank upped their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued 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 $372.86.

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.