Salesforce, Inc. (NYSE:CRM) Shares Sold by Emerald Advisers LLC

Emerald Advisers LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 88.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 200 shares of the CRM provider’s stock after selling 1,566 shares during the quarter. Emerald Advisers LLC’s holdings in Salesforce were worth $51,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Fox Hill Wealth Management increased its position in Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares during the period. Glassman Wealth Services boosted its holdings in Salesforce by 2.9% in the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after acquiring an additional 39 shares during the period. Blue Barn Wealth LLC boosted its holdings in Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after acquiring an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC boosted its holdings in Salesforce by 0.8% in the 2nd quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock worth $1,254,000 after acquiring an additional 39 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of CRM opened at $245.76 on Tuesday. The firm has a market capitalization of $238.14 billion, a price-to-earnings ratio of 44.20, a price-to-earnings-growth ratio of 2.21 and a beta of 1.29. 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 one year low of $193.68 and a one year high of $318.71. The stock’s fifty day moving average is $254.31 and its 200-day moving average is $269.24.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Activity

In other news, Director Oscar Munoz bought 2,051 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average price of $243.69 per share, with a total value of $499,808.19. Following the completion of the purchase, the director now directly owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Oscar Munoz bought 2,051 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average price of $243.69 per share, with a total value of $499,808.19. Following the completion of the purchase, the director now directly owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total value of $884,081.52. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,464,622.79. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,892 shares of company stock valued at $15,269,897. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CRM shares. Piper Sandler upped their price target on Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Oppenheimer upped their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Truist Financial restated a “buy” rating and issued a $300.00 price target on shares of Salesforce in a report on Friday, August 30th. DA Davidson increased their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Citigroup increased their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.41.

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.