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

TRUE Private Wealth Advisors reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 0.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,864 shares of the CRM provider’s stock after selling 31 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Salesforce were worth $1,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Southpoint Capital Advisors LP acquired a new position in shares of Salesforce in the 3rd quarter valued at $82,113,000. White Knight Strategic Wealth Advisors LLC increased its holdings 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 during the last quarter. Captrust Financial Advisors lifted its stake in Salesforce by 1.1% in the third quarter. Captrust Financial Advisors now owns 52,069 shares of the CRM provider’s stock valued at $14,252,000 after buying an additional 582 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in Salesforce by 20.7% during the third quarter. Atlantic Union Bankshares Corp now owns 26,635 shares of the CRM provider’s stock worth $7,290,000 after buying an additional 4,564 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the 3rd quarter worth about $27,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM 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 50 day moving average of $302.12 and a 200-day moving average of $270.65. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $315.47 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRM shares. Bank of America lifted their price objective on shares of Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. BMO Capital Markets raised their price objective on Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Scotiabank assumed coverage on Salesforce in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 target price for the company. Finally, Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $341.89.

Insiders Place Their Bets

In related news, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. This trade represents a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were 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. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,510 shares of company stock worth $42,475,538 over the last three months. Insiders own 3.20% of the company’s stock.

Salesforce 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.