Nations Financial Group Inc. IA ADV Purchases 197 Shares of Salesforce, Inc. (NYSE:CRM)

Nations Financial Group Inc. IA ADV increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,646 shares of the CRM provider’s stock after acquiring an additional 197 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Salesforce were worth $1,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth about $26,000. Ruedi Wealth Management Inc. lifted its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank grew its stake in Salesforce by 2,400.0% in 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 in the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce in the 1st quarter worth $33,000. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at $35,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $235.99, for a total transaction of $660,772.00. Following the sale, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $27,318,674.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce 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 completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,964 shares of company stock worth $27,956,647. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Wednesday. Morgan Stanley boosted their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday. Truist Financial reiterated a “buy” rating and set a $300.00 price target on shares of Salesforce in a research report on Friday. Finally, Robert W. Baird boosted their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $302.00.

Salesforce Stock Down 1.6 %

Shares of CRM stock traded down $4.11 during midday trading on Friday, reaching $252.90. 10,391,372 shares of the stock were exchanged, compared to its average volume of 6,635,113. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a market cap of $245.06 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company’s 50 day moving average is $254.28 and its two-hundred day moving average is $271.44. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 11.57% and a net margin of 15.30%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 earnings per share. On average, equities research analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is currently 28.78%.

Salesforce Company 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.