Salesforce, Inc. (NYSE:CRM) Shares Purchased by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 81,696 shares of the CRM provider’s stock after buying an additional 694 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Salesforce were worth $22,383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Godsey & Gibb Inc. boosted its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the 2nd quarter worth $33,000. Finally, Stephens Consulting LLC grew its position in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE CRM opened at $325.70 on Thursday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The stock has a market capitalization of $311.37 billion, a price-to-earnings ratio of 56.64, a PEG ratio of 2.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $291.21 and a 200-day moving average of $267.72.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the sale, the insider now directly owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. The trade was a 44.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,912,044.90. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,117 shares of company stock valued at $39,085,562. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Robert W. Baird boosted their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.19.

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.