Aaron Wealth Advisors LLC Has $1.63 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Aaron Wealth Advisors LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 9.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,958 shares of the CRM provider’s stock after acquiring an additional 496 shares during the period. Aaron Wealth Advisors LLC’s holdings in Salesforce were worth $1,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. M3 Advisory Group LLC boosted its stake in Salesforce by 6.7% during the third quarter. M3 Advisory Group LLC now owns 1,601 shares of the CRM provider’s stock worth $438,000 after buying an additional 101 shares in the last quarter. Claro Advisors LLC boosted its stake in Salesforce by 210.1% during the third quarter. Claro Advisors LLC now owns 12,175 shares of the CRM provider’s stock worth $3,332,000 after buying an additional 8,249 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in Salesforce by 12.1% during the third quarter. V Square Quantitative Management LLC now owns 21,868 shares of the CRM provider’s stock worth $5,985,000 after buying an additional 2,354 shares in the last quarter. Sax Wealth Advisors LLC boosted its stake in Salesforce by 102.7% during the third quarter. Sax Wealth Advisors LLC now owns 1,899 shares of the CRM provider’s stock worth $520,000 after buying an additional 962 shares in the last quarter. Finally, Madrona Financial Services LLC acquired a new stake in Salesforce during the third quarter worth $253,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Truist Financial reissued a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, TD Cowen lifted their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Trading Up 0.5 %

Shares of Salesforce stock traded up $1.32 during trading on Friday, hitting $292.43. 721,933 shares of the company were exchanged, compared to its average volume of 6,402,033. The firm has a market capitalization of $283.36 billion, a P/E ratio of 52.54, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The firm’s fifty day moving average price is $265.84 and its 200 day moving average price is $263.84. 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 (NYSE:CRM) last posted 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company earned $1.63 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s 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 sale, the chief financial officer now owns 51,109 shares in the company, valued at approximately $13,072,660.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 80,612 shares of company stock worth $21,429,961. 3.20% of the stock is owned by company insiders.

Salesforce Company 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.