Salesforce, Inc. (NYSE:CRM) Shares Bought by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 36.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,935 shares of the CRM provider’s stock after buying an additional 2,664 shares during the period. CreativeOne Wealth LLC’s holdings in Salesforce were worth $2,719,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fisher Asset Management LLC raised its holdings in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares during the period. Legal & General Group Plc increased its holdings in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after purchasing an additional 96,381 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after purchasing an additional 877,495 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $330.01 on Thursday. The business’s 50-day simple moving average is $299.57 and its 200 day simple moving average is $269.87. The stock has a market cap of $315.49 billion, a price-to-earnings ratio of 57.39, a P/E/G ratio of 3.07 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. 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, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s payout ratio is currently 27.83%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 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 $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 144,510 shares of company stock worth $42,475,538. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial increased their price objective on Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a report on Monday. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Bank of America upped their target price on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Loop Capital upped their target price on Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus upped their target price on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Eight 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’s stock. Based on data from MarketBeat.com, Salesforce 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.