Salesforce, Inc. (NYSE:CRM) Shares Bought by Moors & Cabot Inc.

Moors & Cabot Inc. increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,113 shares of the CRM provider’s stock after acquiring an additional 1,189 shares during the period. Moors & Cabot Inc.’s holdings in Salesforce were worth $10,979,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Salesforce by 103.5% during the first quarter. Bessemer Group Inc. now owns 54,761 shares of the CRM provider’s stock worth $16,494,000 after purchasing an additional 27,850 shares during the period. Sax Wealth Advisors LLC purchased a new position in shares of Salesforce in the first quarter worth approximately $233,000. CreativeOne Wealth LLC lifted its position in shares of Salesforce by 180.6% in the 1st quarter. CreativeOne Wealth LLC now owns 7,520 shares of the CRM provider’s stock valued at $2,265,000 after acquiring an additional 4,840 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Salesforce by 20.8% in the first quarter. EP Wealth Advisors LLC now owns 26,451 shares of the CRM provider’s stock valued at $7,967,000 after purchasing an additional 4,553 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its position in shares of Salesforce by 21.4% in the first quarter. Axxcess Wealth Management LLC now owns 13,954 shares of the CRM provider’s stock worth $4,203,000 after buying an additional 2,461 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CRM. JMP Securities reissued a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Truist Financial restated a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $326.19.

Salesforce Stock Up 0.4 %

NYSE CRM traded up $1.35 during mid-day trading on Wednesday, hitting $324.78. The company’s stock had a trading volume of 270,131 shares, compared to its average volume of 6,279,870. The firm has a market capitalization of $310.49 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 2.94 and a beta of 1.29. The company’s 50 day simple moving average is $289.68 and its 200 day simple moving average is $267.31. 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, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $9.22 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at approximately $35,431,349.48. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,173 shares of company stock worth $40,146,206. 3.20% of the stock is owned by company insiders.

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.