Salesforce, Inc. (NYSE:CRM) Shares Purchased by ORG Partners LLC

ORG Partners LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 2,673.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,295 shares of the CRM provider’s stock after buying an additional 6,068 shares during the period. ORG Partners LLC’s holdings in Salesforce were worth $1,613,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Marks Group Wealth Management Inc raised its holdings in shares of Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after purchasing an additional 257 shares during the period. Spartan Planning & Wealth Management raised its holdings in shares of Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after purchasing an additional 625 shares during the period. Roman Butler Fullerton & Co. raised its holdings in shares of Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after buying an additional 105 shares during the period. Parnassus Investments LLC raised its holdings in shares of Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after buying an additional 18,397 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Salesforce by 32.6% during the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after buying an additional 194,224 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRM shares. Truist Financial restated a “buy” rating and set a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Macquarie cut their target price on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Evercore ISI dropped their price objective on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, UBS Group dropped their price objective on Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $286.20, for a total transaction of $4,293,000.00. Following the sale, the chief executive officer now owns 12,527,327 shares in the company, valued at $3,585,320,987.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $286.20, for a total transaction of $4,293,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,527,327 shares in the company, valued at $3,585,320,987.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 1,400 shares of Salesforce stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,936 shares of company stock worth $51,158,915. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.3 %

NYSE:CRM traded up $0.72 during mid-day trading on Wednesday, hitting $255.32. 4,144,730 shares of the stock traded hands, compared to its average volume of 6,643,934. The stock has a market capitalization of $247.41 billion, a price-to-earnings ratio of 46.09, a PEG ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The firm’s 50 day moving average is $248.27 and its two-hundred day moving average is $273.40. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the company earned $1.15 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. Salesforce’s payout ratio is 28.78%.

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.