Little House Capital LLC Buys 890 Shares of Salesforce, Inc. (NYSE:CRM)

Little House Capital LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 11.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,505 shares of the CRM provider’s stock after acquiring an additional 890 shares during the quarter. Little House Capital LLC’s holdings in Salesforce were worth $2,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Trilogy Capital Inc. increased its stake in Salesforce by 10.2% in the 3rd quarter. Trilogy Capital Inc. now owns 1,756 shares of the CRM provider’s stock valued at $481,000 after buying an additional 162 shares during the last quarter. Brown Lisle Cummings Inc. increased its stake in shares of Salesforce by 2.5% during the 3rd quarter. Brown Lisle Cummings Inc. now owns 5,154 shares of the CRM provider’s stock worth $1,411,000 after purchasing an additional 125 shares during the last quarter. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the 3rd 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 last quarter. Vest Financial LLC increased its stake in shares of Salesforce by 168.2% during the 3rd quarter. Vest Financial LLC now owns 5,201 shares of the CRM provider’s stock worth $1,424,000 after purchasing an additional 3,262 shares during the last quarter. Finally, Stegent Equity Advisors Inc. acquired a new position in shares of Salesforce during the 3rd quarter worth about $330,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE CRM traded down $1.97 during trading on Monday, reaching $290.97. 1,243,645 shares of the company traded hands, compared to its average volume of 6,388,458. The firm has a 50 day simple moving average of $266.65 and a 200-day simple moving average of $263.20. 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 stock has a market capitalization of $281.95 billion, a PE ratio of 52.43, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group lifted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Wedbush boosted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Finally, Robert W. Baird upped their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Insider Activity

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,575 shares of company stock worth $20,923,258 over the last quarter. Insiders own 3.20% of the company’s stock.

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.