744 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by E&G Advisors LP

E&G Advisors LP bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 744 shares of the CRM provider’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new position in Salesforce in the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce during the fourth quarter worth approximately $31,000. Pacifica Partners Inc. grew its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $256.24, for a total value of $1,076,208.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,901,414.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Brian Millham sold 2,018 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $256.24, for a total value of $1,076,208.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at approximately $29,901,414.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 499,152 shares of company stock worth $136,281,661. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Stifel Nicolaus dropped their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 target price on shares of Salesforce in a research report on Friday, May 24th. Truist Financial reaffirmed a “buy” rating and set a $300.00 price target (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Wells Fargo & Company decreased their price target on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Finally, Jefferies Financial Group dropped their price objective on Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Salesforce Stock Performance

CRM traded up $4.64 during trading hours on Wednesday, hitting $260.83. 4,755,729 shares of the stock were exchanged, compared to its average volume of 6,945,110. The stock has a market cap of $252.74 billion, a price-to-earnings ratio of 46.90, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The stock has a 50-day simple moving average of $259.03 and a 200-day simple moving average of $276.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

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

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s dividend payout ratio is presently 7.19%.

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.