ST Germain D J Co. Inc. Sells 400 Shares of Salesforce, Inc. (NYSE:CRM)

ST Germain D J Co. Inc. cut its stake in Salesforce, Inc. (NYSE:CRM) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,619 shares of the CRM provider’s stock after selling 400 shares during the quarter. ST Germain D J Co. Inc.’s holdings in Salesforce were worth $6,191,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ruedi Wealth Management Inc. boosted its stake in shares of 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 during the last quarter. Piscataqua Savings Bank increased its stake in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC grew its stake in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Red Tortoise LLC purchased a new stake in shares of Salesforce in the first quarter worth about $33,000. Finally, Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Truist Financial restated a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Citigroup upped their target price on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Cfra set a $343.00 target price on shares of Salesforce in a research report on Thursday. Finally, Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their target price for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 2,037 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $248.75, for a total transaction of $506,703.75. Following the completion of the sale, the chief operating officer now directly owns 1,947 shares in the company, valued at $484,316.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, COO Brian Millham sold 2,037 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $248.75, for a total value of $506,703.75. Following the completion of the sale, the chief operating officer now owns 1,947 shares of the company’s stock, valued at $484,316.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 2,800 shares of the company’s 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 sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,612 shares of company stock valued at $21,429,961. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.6 %

Salesforce stock traded up $1.83 during mid-day trading on Friday, hitting $292.94. The company had a trading volume of 3,087,902 shares, compared to its average volume of 6,414,292. The stock has a market cap of $283.86 billion, a price-to-earnings ratio of 52.71, a PEG ratio of 2.61 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The business has a fifty day moving average of $266.65 and a 200 day moving average of $263.77.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 earnings per share. On average, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend 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.