Sivia Capital Partners LLC Acquires 307 Shares of Salesforce, Inc. (NYSE:CRM)

Sivia Capital Partners LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,659 shares of the CRM provider’s stock after buying an additional 307 shares during the period. Sivia Capital Partners LLC’s holdings in Salesforce were worth $728,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in shares of Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. GQG Partners LLC bought a new stake in shares of Salesforce during the first quarter valued at approximately $910,220,000. Swedbank AB bought a new stake in shares of Salesforce during the first quarter valued at approximately $874,748,000. Massachusetts Financial Services Co. MA increased its position in shares of Salesforce by 48.3% during 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 during the period. Finally, AMF Tjanstepension AB increased its position in shares of Salesforce by 376.1% during the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after purchasing an additional 1,139,472 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,283,087 over the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.6 %

NYSE CRM traded up $1.74 during trading hours on Monday, hitting $289.84. 1,093,284 shares of the company traded hands, compared to its average volume of 6,464,003. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market capitalization of $280.85 billion, a price-to-earnings ratio of 51.95, a P/E/G ratio of 2.61 and a beta of 1.30. The business’s 50-day moving average is $261.93 and its 200-day moving average is $263.61. 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 (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm posted $1.63 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s payout ratio is 28.78%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Roth Mkm restated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Bank of America reaffirmed a “buy” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Raymond James boosted their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price target on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $310.74.

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.