Clarius Group LLC Trims Position in Salesforce, Inc. (NYSE:CRM)

Clarius Group LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,748 shares of the CRM provider’s stock after selling 161 shares during the quarter. Clarius Group LLC’s holdings in Salesforce were worth $2,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. grew its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the second 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. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at approximately $33,000. Clear Investment Research LLC boosted its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce in the second quarter worth about $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 2,037 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the sale, the chief operating officer now directly owns 1,947 shares of the company’s stock, valued at approximately $484,316.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,612 shares of company stock worth $21,283,087. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRM. Phillip Securities restated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Piper Sandler raised shares of Salesforce from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $268.00 to $325.00 in a report on Tuesday, September 24th. Oppenheimer boosted their target price on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Bank of America restated a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Finally, Wedbush boosted their price objective on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Trading Down 0.2 %

NYSE CRM opened at $289.61 on Friday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a market cap of $276.87 billion, a PE ratio of 50.46, a PEG ratio of 2.61 and a beta of 1.30. The stock has a 50 day moving average of $261.04 and a 200-day moving average of $264.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 earnings per share. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s payout ratio is 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.