Salesforce, Inc. (NYSE:CRM) Shares Acquired by NorthRock Partners LLC

NorthRock Partners LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 26.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,583 shares of the CRM provider’s stock after buying an additional 2,403 shares during the period. NorthRock Partners LLC’s holdings in Salesforce were worth $3,170,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nvwm LLC boosted its stake in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares in the last quarter. Prentice Wealth Management LLC lifted its holdings in Salesforce by 1.5% in the 3rd 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 during the last quarter. Private Wealth Management Group LLC boosted its position in Salesforce by 11.6% during the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after purchasing an additional 37 shares during the period. Pinnacle Wealth Planning Services Inc. grew its holdings in Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares during the last quarter. Finally, Fulton Bank N.A. raised its position in shares of Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,003 shares of company stock valued at $41,494,084 over the last ninety days. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

NYSE:CRM traded down $0.93 on Tuesday, reaching $297.08. The stock had a trading volume of 536,759 shares, compared to its average volume of 6,241,766. 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 company has a market capitalization of $284.01 billion, a P/E ratio of 51.81, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $204.69 and a 1-year high of $318.71. The stock has a fifty day moving average price of $273.68 and a 200-day moving average price of $263.36.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. Research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Cfra set a $343.00 target price on Salesforce in a report on Thursday, October 17th. Finally, Robert W. Baird upped their price target on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $313.37.

About Salesforce

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.