Boston Family Office LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Boston Family Office LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,644 shares of the CRM provider’s stock after purchasing an additional 650 shares during the quarter. Salesforce makes up about 1.7% of Boston Family Office LLC’s holdings, making the stock its 16th biggest position. Boston Family Office LLC’s holdings in Salesforce were worth $25,084,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Piscataqua Savings Bank grew its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in 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 during the period. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. boosted its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 1.9 %

Shares of CRM opened at $342.02 on Monday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The firm has a market capitalization of $326.97 billion, a price-to-earnings ratio of 59.48, a PEG ratio of 3.10 and a beta of 1.29. The firm’s 50-day moving average price is $294.61 and its 200-day moving average price is $268.53. 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 (NYSE:CRM) last issued its quarterly 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. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insiders Place Their Bets

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,991 shares of company stock valued at $43,333,238. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on CRM shares. Jefferies Financial Group raised their price objective on shares of Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Robert W. Baird increased their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Citigroup increased their target price on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Truist Financial reiterated a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $337.80.

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.