Salesforce, Inc. (NYSE:CRM) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE cut its stake in Salesforce, Inc. (NYSE:CRM) by 15.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,846 shares of the CRM provider’s stock after selling 2,116 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Salesforce were worth $3,046,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. bought a new position in Salesforce in the 4th quarter worth approximately $164,000. Telos Capital Management Inc. bought a new stake in shares of Salesforce during the fourth quarter valued at about $649,000. Archer Investment Corp increased its stake in Salesforce by 19.6% during the 4th quarter. Archer Investment Corp now owns 445 shares of the CRM provider’s stock valued at $117,000 after buying an additional 73 shares during the period. Roman Butler Fullerton & Co. increased its stake in Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after buying an additional 105 shares during the period. Finally, Federated Hermes Inc. increased its stake in Salesforce by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 418,196 shares of the CRM provider’s stock valued at $110,044,000 after buying an additional 6,525 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Up 0.0 %

Shares of CRM stock traded up $0.12 during trading on Friday, hitting $262.91. 3,494,863 shares of the company were exchanged, compared to its average volume of 6,614,657. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $254.76 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 2.22 and a beta of 1.29. The business’s 50-day simple moving average is $249.47 and its 200 day simple moving average is $272.92. Salesforce, Inc. has a twelve month low of $193.68 and a twelve 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, topping the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company posted $1.15 earnings per share. As a group, analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $29,932,595.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Brian Millham sold 969 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $253.63, for a total value of $245,767.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $29,932,595.17. The disclosure for this sale can be found here. Insiders sold 187,136 shares of company stock worth $47,935,109 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRM shares. TD Cowen lowered their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a research note on Thursday, May 30th. Truist Financial reissued a “buy” rating and set a $300.00 target price (down previously from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Canaccord Genuity Group lowered their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Jefferies Financial Group lowered their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $291.50.

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.