Salesforce, Inc. (NYSE:CRM) Shares Bought by West Michigan Advisors LLC

West Michigan Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 732.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,522 shares of the CRM provider’s stock after buying an additional 11,897 shares during the period. Salesforce accounts for approximately 1.1% of West Michigan Advisors LLC’s investment portfolio, making the stock its 25th largest position. West Michigan Advisors LLC’s holdings in Salesforce were worth $3,702,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. Capital Research Global Investors boosted its stake in Salesforce by 26.9% during the first 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 period. GQG Partners LLC acquired a new stake in shares of Salesforce during the first quarter worth about $910,220,000. Swedbank AB purchased a new position in shares of Salesforce in the first quarter valued at approximately $874,748,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB increased its stake in Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after buying an additional 1,139,472 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.8 %

Shares of Salesforce stock opened at $286.74 on Friday. The company has a market cap of $277.85 billion, a P/E ratio of 51.57, a PEG ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a fifty day moving average of $268.70 and a two-hundred day moving average of $263.24.

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

Salesforce Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Sanford C. Bernstein upped their price target on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. Phillip Securities reissued an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Finally, Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $312.51.

Insiders Place Their Bets

In other news, insider Parker Harris sold 2,800 shares of Salesforce 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 transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. 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 three months, insiders have sold 86,812 shares of company stock worth $23,418,916. 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.