Salesforce, Inc. (NYSE:CRM) Stock Position Raised by Navalign LLC

Navalign LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,936 shares of the CRM provider’s stock after acquiring an additional 284 shares during the quarter. Salesforce makes up about 0.6% of Navalign LLC’s holdings, making the stock its 25th biggest holding. Navalign LLC’s holdings in Salesforce were worth $2,040,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Ruedi Wealth Management Inc. lifted its position in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares in the last quarter. Signature Resources Capital Management LLC purchased a new stake in Salesforce in the 4th quarter worth approximately $26,000. Piscataqua Savings Bank lifted its position 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 acquired a new position in shares of Salesforce during the 1st quarter worth $33,000. Finally, Stephens Consulting LLC increased its stake in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.6 %

Shares of CRM traded down $4.11 on Friday, reaching $252.90. 10,507,704 shares of the company’s stock were exchanged, compared to its average volume of 6,635,113. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $245.06 billion, a P/E ratio of 45.49, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The business has a 50 day moving average price of $254.28 and a two-hundred day moving average price of $271.44. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Buying and Selling at Salesforce

In other news, Director G Mason Morfit bought 428,000 shares of the stock in a transaction on Monday, June 3rd. The stock was purchased at an average price of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the purchase, the director now owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the completion of the sale, the chief executive officer now owns 12,362,327 shares of the company’s stock, valued at $2,913,924,097.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Mason Morfit acquired 428,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were bought at an average cost of $233.17 per share, with a total value of $99,796,760.00. Following the transaction, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 112,964 shares of company stock valued at $27,956,647. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CRM. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research note on Thursday. Morgan Stanley increased their price target on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America increased their price target on shares of Salesforce from $316.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group increased their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Truist Financial restated a “buy” rating and set a $300.00 price target on shares of Salesforce in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $302.00.

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.