Salesforce, Inc. (NYSE:CRM) Shares Sold by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 0.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,029 shares of the CRM provider’s stock after selling 49 shares during the period. Petredis Investment Advisors LLC’s holdings in Salesforce were worth $5,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Creekmur Asset Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $35,000. Kapitalo Investimentos Ltda purchased a new stake in Salesforce in the 4th quarter valued at $51,000. Ferguson Wellman Capital Management Inc. grew its holdings in Salesforce by 11.8% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 1,311 shares of the CRM provider’s stock valued at $395,000 after buying an additional 138 shares in the last quarter. Foster Group Inc. acquired a new stake in shares of Salesforce in the 1st quarter worth $296,000. Finally, Montecito Bank & Trust raised its holdings in shares of Salesforce by 57.5% during the 1st quarter. Montecito Bank & Trust now owns 2,004 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 732 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the sale, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,412 shares of company stock valued at $20,212,507. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRM shares. JMP Securities reissued a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. DA Davidson raised their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. BMO Capital Markets raised their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Bank of America reaffirmed a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.74.

Salesforce Trading Down 1.1 %

NYSE:CRM opened at $288.31 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market cap of $279.37 billion, a P/E ratio of 51.85, a P/E/G ratio of 2.61 and a beta of 1.30. The stock has a 50-day simple moving average of $263.98 and a 200-day simple moving average of $263.46.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.