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

Everpar Advisors LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,752 shares of the CRM provider’s stock after selling 119 shares during the quarter. Everpar Advisors LLC’s holdings in Salesforce were worth $480,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fox Hill Wealth Management raised its holdings in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its position in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the period. Blue Barn Wealth LLC raised its position in Salesforce by 1.8% in the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock valued at $665,000 after purchasing an additional 39 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Salesforce by 0.8% during the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock worth $1,254,000 after purchasing an additional 39 shares in the last quarter. Finally, DSC Advisors L.P. grew its stake in shares of Salesforce by 3.1% in the second quarter. DSC Advisors L.P. now owns 1,302 shares of the CRM provider’s stock valued at $335,000 after buying an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.1 %

Shares of CRM stock opened at $284.48 on Tuesday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock’s fifty day simple moving average is $258.53 and its 200 day simple moving average is $264.22. 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 firm has a market capitalization of $275.66 billion, a P/E ratio of 51.17, a P/E/G ratio of 2.39 and a beta of 1.30.

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. The company had revenue of $9.33 billion for 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%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several analyst reports. Piper Sandler upgraded shares of Salesforce from a “neutral” rating to an “overweight” rating and upped their target price for the company from $268.00 to $325.00 in a research note on Tuesday, September 24th. Citigroup lifted their target price on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Bank of America reissued a “buy” rating and issued a $325.00 price target on shares of Salesforce in a report on Friday, September 6th. JPMorgan Chase & Co. upped their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, Stifel Nicolaus raised their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Insiders Place Their Bets

In other news, COO Brian Millham sold 8,427 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, COO Brian Millham sold 8,427 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at $29,745,045.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,412 shares of company stock worth $20,071,723. 3.20% of the stock is currently owned by insiders.

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.