Onyx Bridge Wealth Group LLC Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Onyx Bridge Wealth Group LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 999 shares of the CRM provider’s stock after buying an additional 49 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Salesforce were worth $273,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. Capital International Investors grew its holdings in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. Legal & General Group Plc increased its position in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.7 %

NYSE CRM opened at $293.07 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. The stock’s 50-day simple moving average is $266.65 and its two-hundred day simple moving average is $263.77. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a market capitalization of $283.98 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.63 EPS. Research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRM shares. Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Citigroup raised their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Raymond James boosted their target price on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Finally, 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. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $311.66.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, COO Brian Millham sold 8,427 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock worth $21,429,961 in the last 90 days. 3.20% of the stock is owned by company 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.