Salesforce, Inc. (NYSE:CRM) Shares Acquired by Waverton Investment Management Ltd

Waverton Investment Management Ltd lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,433 shares of the CRM provider’s stock after buying an additional 518 shares during the quarter. Waverton Investment Management Ltd’s holdings in Salesforce were worth $2,034,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Apollon Wealth Management LLC boosted its stake in shares of Salesforce by 5.9% during the third quarter. Apollon Wealth Management LLC now owns 25,801 shares of the CRM provider’s stock worth $7,062,000 after buying an additional 1,434 shares during the period. Everhart Financial Group Inc. boosted its stake in shares of Salesforce by 16.4% during the third quarter. Everhart Financial Group Inc. now owns 5,086 shares of the CRM provider’s stock worth $1,392,000 after buying an additional 715 shares during the period. Fountainhead AM LLC boosted its stake in shares of Salesforce by 56.1% during the third quarter. Fountainhead AM LLC now owns 2,514 shares of the CRM provider’s stock worth $688,000 after buying an additional 903 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of Salesforce by 0.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 6,704 shares of the CRM provider’s stock worth $1,835,000 after buying an additional 58 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its stake in shares of Salesforce by 7.5% during the third quarter. Jaffetilchin Investment Partners LLC now owns 4,128 shares of the CRM provider’s stock worth $1,130,000 after buying an additional 289 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRM shares. Truist Financial restated a “buy” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Loop Capital restated a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Raymond James raised their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Citigroup raised their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, Bank of America reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research report on Friday, September 6th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $314.80.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Salesforce news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Up 6.1 %

Shares of CRM opened at $341.74 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $326.70 billion, a PE ratio of 59.43, a price-to-earnings-growth ratio of 2.91 and a beta of 1.29. The company’s fifty day moving average is $277.76 and its two-hundred day moving average is $264.35. Salesforce, Inc. has a fifty-two week low of $211.76 and a fifty-two week high of $344.88.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 EPS. Analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s payout ratio is 27.83%.

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.