Resonant Capital Advisors LLC Buys 3,763 Shares of Salesforce, Inc. (NYSE:CRM)

Resonant Capital Advisors LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 109.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,201 shares of the CRM provider’s stock after buying an additional 3,763 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Salesforce were worth $1,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ruedi Wealth Management Inc. lifted its position in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its position in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Red Tortoise LLC acquired a new position in Salesforce during the 1st quarter worth about $33,000. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the 2nd quarter worth about $33,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Brian Millham sold 2,037 shares of Salesforce stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $248.75, for a total transaction of $506,703.75. Following the completion of the sale, the chief operating officer now owns 1,947 shares of the company’s stock, valued at approximately $484,316.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction 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 directly owns 51,109 shares of the company’s stock, 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 sold 80,612 shares of company stock valued at $21,429,961 in the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Up 0.6 %

NYSE CRM opened at $292.94 on Friday. The company has a market cap of $283.86 billion, a PE ratio of 52.69, a PEG ratio of 2.61 and a beta of 1.30. 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, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a 50 day moving average of $266.65 and a 200-day moving average of $263.49.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have issued reports on CRM. Canaccord Genuity Group upped their target price on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Oppenheimer increased their target price on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Cfra set a $343.00 target price on Salesforce in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $311.66.

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.