Sheaff Brock Investment Advisors LLC Acquires 615 Shares of Salesforce, Inc. (NYSE:CRM)

Sheaff Brock Investment Advisors LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,183 shares of the CRM provider’s stock after acquiring an additional 615 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Salesforce were worth $7,166,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Signature Estate & Investment Advisors LLC increased its holdings in shares of Salesforce by 16.4% during the third quarter. Signature Estate & Investment Advisors LLC now owns 220,843 shares of the CRM provider’s stock worth $60,447,000 after purchasing an additional 31,099 shares during the period. Connable Office Inc. grew its position in Salesforce by 0.5% during the third quarter. Connable Office Inc. now owns 9,608 shares of the CRM provider’s stock worth $2,630,000 after buying an additional 52 shares in the last quarter. CIBC Asset Management Inc increased its stake in Salesforce by 2.4% during the 3rd quarter. CIBC Asset Management Inc now owns 228,581 shares of the CRM provider’s stock worth $62,565,000 after acquiring an additional 5,456 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in Salesforce by 6.5% during the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,416 shares of the CRM provider’s stock worth $1,482,000 after acquiring an additional 332 shares during the period. Finally, Oak Harbor Wealth Partners LLC raised its holdings in Salesforce by 4.8% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 9,327 shares of the CRM provider’s stock valued at $2,553,000 after acquiring an additional 424 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. This trade represents a 3.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock valued at $41,250,680 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Down 1.1 %

NYSE CRM opened at $328.00 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The business has a 50 day moving average price of $283.28 and a 200-day moving average price of $265.84. The company has a market cap of $313.57 billion, a price-to-earnings ratio of 57.66, a P/E/G ratio of 3.09 and a beta of 1.29.

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

Salesforce Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Analyst Ratings Changes

CRM has been the topic of a number of recent analyst reports. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Loop Capital raised their target price on shares of Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Truist Financial restated a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Finally, Jefferies Financial Group raised their price target on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday. 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 stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

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.