Salesforce, Inc. (NYSE:CRM) Shares Purchased by Hudson Capital Management LLC

Hudson Capital Management LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,181 shares of the CRM provider’s stock after purchasing an additional 202 shares during the period. Salesforce makes up 1.5% of Hudson Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Hudson Capital Management LLC’s holdings in Salesforce were worth $4,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank grew 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 acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC acquired a new position in Salesforce in the first quarter worth $33,000. Finally, Stephens Consulting LLC boosted its holdings 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 period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at $29,745,045.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the transaction, the insider now directly owns 116,693 shares in the company, valued at approximately $29,745,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,283,087 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wedbush boosted their price target on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. Raymond James upped their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Evercore ISI restated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Wells Fargo & Company increased their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Finally, Piper Sandler upgraded Salesforce from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $268.00 to $325.00 in a report on Tuesday, September 24th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Price Performance

Shares of CRM opened at $290.17 on Friday. The firm has a market capitalization of $277.40 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. 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, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company’s fifty day moving average price is $261.04 and its 200-day moving average price is $264.29.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio is presently 27.83%.

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.