Salesforce, Inc. (NYSE:CRM) Holdings Lifted by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 23,664.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,002,848 shares of the CRM provider’s stock after buying an additional 998,628 shares during the period. International Assets Investment Management LLC’s holdings in Salesforce were worth $274,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Prentice Wealth Management LLC grew its stake in shares of Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares in the last quarter. Fox Hill Wealth Management grew its position in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after buying an additional 38 shares during the period. Fulton Bank N.A. increased its stake in Salesforce by 0.4% during the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after buying an additional 38 shares during the period. Finally, CRA Financial Services LLC lifted its stake in shares of Salesforce by 3.4% in the 3rd quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after acquiring an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 0.8 %

Salesforce stock opened at $286.74 on Friday. The company has a market capitalization of $277.85 billion, a P/E ratio of 51.70, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm’s fifty day simple moving average is $268.70 and its 200-day simple moving average is $263.24. 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 announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. Loop Capital reiterated a “hold” rating and set a $270.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Canaccord Genuity Group raised their target price on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. TD Cowen upped their price target on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, Wedbush lifted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.51.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,251,239.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,251,239.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,812 shares of company stock worth $23,418,916 over the last 90 days. Insiders own 3.20% of the company’s stock.

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.