Redhawk Wealth Advisors Inc. Sells 151 Shares of Salesforce, Inc. (NYSE:CRM)

Redhawk Wealth Advisors Inc. lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 813 shares of the CRM provider’s stock after selling 151 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Salesforce were worth $222,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Red Tortoise LLC purchased a new position in Salesforce during the 1st quarter valued at $33,000. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the 2nd quarter valued at $33,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CRM shares. Bank of America restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Friday, September 6th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Down 1.1 %

Shares of CRM stock opened at $288.31 on Wednesday. The stock’s 50-day simple moving average is $263.98 and its 200-day simple moving average is $263.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $279.37 billion, a PE ratio of 51.85, a P/E/G ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced 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. The business 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 revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 earnings per share. Equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the company’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 sale, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock worth $20,212,507 over the last quarter. 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.