Salesforce, Inc. (NYSE:CRM) Shares Sold by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,021 shares of the CRM provider’s stock after selling 1,179 shares during the quarter. Salesforce comprises 1.8% of Middleton & Co. Inc. MA’s holdings, making the stock its 17th largest holding. Middleton & Co. Inc. MA’s holdings in Salesforce were worth $15,431,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC increased its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC acquired a new stake in shares of Salesforce during the first quarter worth about $33,000. Finally, Stephens Consulting LLC boosted its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $252.42 on Thursday. The company has a 50-day moving average of $253.60 and a two-hundred day moving average of $267.01. The stock has a market cap of $244.59 billion, a P/E ratio of 45.40, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRM shares. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Evercore ISI reissued an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Truist Financial reissued a “buy” rating and set a $300.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Finally, Raymond James boosted their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” 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 three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $305.55.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were 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 in the company, valued at approximately $13,072,660.02. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,223,020.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’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 $229,434.66. Following the completion of the transaction, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,576 shares of company stock valued at $16,957,573. 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.