Sargent Investment Group LLC Boosts Position in Salesforce, Inc. (NYSE:CRM)

Sargent Investment Group LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,019 shares of the CRM provider’s stock after purchasing an additional 61 shares during the quarter. Sargent Investment Group LLC’s holdings in Salesforce were worth $1,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank lifted its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC raised 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 valued at $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the second quarter valued at about $33,000. Finally, Stephens Consulting LLC increased its position in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,373 shares of company stock valued at $41,250,680. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CRM shares. Morgan Stanley upped their price objective on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a 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. Wedbush lifted their price objective on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Robert W. Baird increased their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday. 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 company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $318.23.

Salesforce Price Performance

Shares of NYSE:CRM traded down $7.73 on Thursday, reaching $333.99. 3,044,483 shares of the company were exchanged, compared to its average volume of 6,295,478. The company has a 50-day moving average of $283.28 and a 200-day moving average of $265.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $319.29 billion, a price-to-earnings ratio of 58.18, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86.

Salesforce (NYSE:CRM) last issued 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 company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. Equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s payout ratio is 27.83%.

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.