Independent Solutions Wealth Management LLC Buys 145 Shares of Salesforce, Inc. (NYSE:CRM)

Independent Solutions Wealth Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,140 shares of the CRM provider’s stock after purchasing an additional 145 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Salesforce were worth $586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRM. 1620 Investment Advisors Inc. purchased a new position in Salesforce during the 2nd quarter valued at about $41,000. Geneos Wealth Management Inc. raised its holdings in shares of Salesforce by 4.0% during the second quarter. Geneos Wealth Management Inc. now owns 11,830 shares of the CRM provider’s stock valued at $3,041,000 after acquiring an additional 450 shares in the last quarter. &PARTNERS boosted its holdings in Salesforce by 165.2% in the second quarter. &PARTNERS now owns 11,483 shares of the CRM provider’s stock valued at $2,954,000 after acquiring an additional 7,153 shares in the last quarter. JB Capital LLC increased its position in Salesforce by 18.8% during the 2nd quarter. JB Capital LLC now owns 2,531 shares of the CRM provider’s stock valued at $651,000 after purchasing an additional 400 shares during the period. Finally, Diversified LLC raised its holdings in Salesforce by 33.7% in the 2nd quarter. Diversified LLC now owns 904 shares of the CRM provider’s stock worth $232,000 after purchasing an additional 228 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM traded up $0.82 during mid-day trading on Thursday, reaching $338.05. The company had a trading volume of 4,107,691 shares, compared to its average volume of 6,403,918. The business’s 50-day simple moving average is $321.11 and its 200 day simple moving average is $277.86. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $323.51 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. On average, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s payout ratio is currently 26.32%.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,298 shares of company stock worth $39,903,781. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Macquarie reissued a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research note on Wednesday. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. Guggenheim reaffirmed a “neutral” rating on shares of Salesforce in a report on Wednesday, December 4th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, UBS Group lifted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Eight research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $378.86.

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.