Financial Perspectives Inc Purchases 148 Shares of Salesforce, Inc. (NYSE:CRM)

Financial Perspectives Inc grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 197.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 223 shares of the CRM provider’s stock after acquiring an additional 148 shares during the quarter. Financial Perspectives Inc’s holdings in Salesforce were worth $57,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRM. Capital International Investors lifted its stake in Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares during the period. Capital Research Global Investors increased its position in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the period. GQG Partners LLC purchased a new stake in Salesforce in the first quarter worth about $910,220,000. Swedbank AB bought a new position in shares of Salesforce in the 1st quarter worth approximately $874,748,000. Finally, Coatue Management LLC purchased a new stake in Salesforce in the fourth quarter worth $564,188,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CRM shares. DA Davidson lifted their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Wednesday, August 28th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 6th. Robert W. Baird increased their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Piper Sandler lifted their price target on Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $305.55.

Salesforce Stock Up 0.5 %

NYSE CRM opened at $254.57 on Monday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. 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 $246.68 billion, a P/E ratio of 45.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The stock’s 50-day moving average price is $253.56 and its 200-day moving average price is $267.91.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling

In related news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,376 shares of company stock valued at $15,878,005. Corporate insiders own 3.20% of the company’s stock.

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.