TRUE Private Wealth Advisors Has $1.61 Million Stake in Salesforce, Inc. (NYSE:CRM)

TRUE Private Wealth Advisors lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 0.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,864 shares of the CRM provider’s stock after selling 31 shares during the period. TRUE Private Wealth Advisors’ holdings in Salesforce were worth $1,605,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Southpoint Capital Advisors LP acquired a new stake in shares of Salesforce during the 3rd quarter valued at $82,113,000. White Knight Strategic Wealth Advisors LLC grew its stake in Salesforce by 3.0% in the third quarter. White Knight Strategic Wealth Advisors LLC now owns 1,382 shares of the CRM provider’s stock valued at $378,000 after purchasing an additional 40 shares in the last quarter. Captrust Financial Advisors increased its position in Salesforce by 1.1% in the 3rd quarter. Captrust Financial Advisors now owns 52,069 shares of the CRM provider’s stock worth $14,252,000 after purchasing an additional 582 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Salesforce by 20.7% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 26,635 shares of the CRM provider’s stock worth $7,290,000 after purchasing an additional 4,564 shares in the last quarter. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 0.0 %

Shares of Salesforce stock opened at $329.99 on Friday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The stock has a market capitalization of $315.47 billion, a P/E ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29. The company has a 50-day simple moving average of $302.12 and a 200 day simple moving average of $270.65. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its 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 net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. Research analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Transactions at Salesforce

In other news, insider Sabastian Niles sold 2,484 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 3,528 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $29,464,622.79. This trade represents a 2.91 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,510 shares of company stock worth $42,475,538. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on CRM shares. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Stifel Nicolaus upped their price target on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Scotiabank began coverage on Salesforce in a report on Monday, November 18th. They set a “sector outperform” rating and a $425.00 price objective on the stock. Jefferies Financial Group upped their target price on Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $341.89.

Salesforce Company 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.