Westfuller Advisors LLC Purchases New Stake in Salesforce, Inc. (NYSE:CRM)

Westfuller Advisors LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,021 shares of the CRM provider’s stock, valued at approximately $280,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Umpqua Bank raised its position in shares of Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares in the last quarter. Nvwm LLC increased its position in Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares during the period. Prentice Wealth Management LLC increased its position in Salesforce by 1.5% in the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after buying an additional 37 shares during the period. Private Wealth Management Group LLC increased its position in Salesforce by 11.6% in the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after buying an additional 37 shares during the period. Finally, Fulton Bank N.A. increased its position in Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after buying an additional 38 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

CRM opened at $325.26 on Friday. The firm has a market capitalization of $310.95 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The stock’s 50 day moving average price is $286.61 and its two-hundred day moving average price is $266.62. 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 12-month low of $212.00 and a 12-month high of $348.86.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm 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 quarter last year, the firm posted $1.63 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current 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 issued a $0.40 dividend. 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 (DPR) is currently 27.83%.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. Sanford C. Bernstein increased their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. JMP Securities reissued a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Truist Financial reissued a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 3,970 shares of Salesforce stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,373 shares of company stock valued at $41,250,680 in the last 90 days. 3.20% of the stock is currently owned by insiders.

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.