Hantz Financial Services Inc. Cuts Position in Salesforce, Inc. (NYSE:CRM)

Hantz Financial Services Inc. decreased its position in Salesforce, Inc. (NYSE:CRM) by 83.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,892 shares of the CRM provider’s stock after selling 114,467 shares during the quarter. Hantz Financial Services Inc.’s holdings in Salesforce were worth $6,266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its stake in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after acquiring an additional 33 shares in the last quarter. Umpqua Bank grew its stake in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares in the last quarter. Principal Street Partners LLC grew its stake in shares of Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after acquiring an additional 34 shares in the last quarter. Nvwm LLC grew its stake in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its stake in shares of Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Sanford C. Bernstein boosted their target price on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Truist Financial boosted their target price on shares of Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $341.89.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,510 shares of company stock worth $42,475,538. 3.20% of the stock is owned by company insiders.

Salesforce Trading Down 0.0 %

NYSE CRM opened at $329.99 on Friday. The stock has a market capitalization of $315.47 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The firm has a 50-day moving average price of $302.12 and a 200 day moving average price of $270.65. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s payout ratio is currently 27.83%.

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.