Salesforce, Inc. (NYSE:CRM) Shares Bought by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,312 shares of the CRM provider’s stock after purchasing an additional 38 shares during the period. Salesforce comprises 1.6% of Boomfish Wealth Group LLC’s holdings, making the stock its 21st biggest holding. Boomfish Wealth Group LLC’s holdings in Salesforce were worth $2,549,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Red Tortoise LLC purchased a new stake in Salesforce during the first quarter valued at about $33,000. Clear Investment Research LLC lifted its stake in Salesforce by 816.7% during the second 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 in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the second quarter worth about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 1.3 %

CRM stock opened at $291.77 on Tuesday. The stock has a market capitalization of $282.73 billion, a price-to-earnings ratio of 52.48, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a 50-day moving average of $262.99 and a two-hundred day moving average of $263.55. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 EPS. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared 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 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Roth Mkm restated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Robert W. Baird raised their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Nine investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Brian Millham sold 2,037 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the transaction, the chief operating officer now owns 1,947 shares in the company, valued at approximately $484,316.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock worth $20,212,507 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Profile

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.