Joel Isaacson & Co. LLC Purchases 346 Shares of Salesforce, Inc. (NYSE:CRM)

Joel Isaacson & Co. LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 17.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,349 shares of the CRM provider’s stock after buying an additional 346 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Salesforce were worth $643,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after buying an additional 1,008,841 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Capital International Investors increased its holdings in shares of Salesforce by 3.0% during the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. Legal & General Group Plc raised its position in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $290.46 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a market capitalization of $281.46 billion, a PE ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30. The business’s 50 day moving average price is $269.73 and its 200-day moving average price is $263.05.

Salesforce (NYSE:CRM) last announced its 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 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%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.63 EPS. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have issued reports on CRM. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and set a $270.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Sanford C. Bernstein boosted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, 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. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.51.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,781 shares of company stock worth $23,696,593 in the last ninety days. Insiders own 3.20% of the company’s stock.

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.