Salesforce, Inc. (NYSE:CRM) Shares Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 625,205 shares of the CRM provider’s stock after purchasing an additional 21,220 shares during the period. Salesforce comprises about 1.1% of Kovitz Investment Group Partners LLC’s portfolio, making the stock its 15th biggest holding. Kovitz Investment Group Partners LLC owned about 0.07% of Salesforce worth $167,285,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. U.S. Capital Wealth Advisors LLC raised its position in Salesforce by 1.3% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 7,125 shares of the CRM provider’s stock worth $1,832,000 after acquiring an additional 94 shares during the period. CRA Financial Services LLC raised its position in Salesforce by 28.2% during the second quarter. CRA Financial Services LLC now owns 1,122 shares of the CRM provider’s stock worth $288,000 after acquiring an additional 247 shares during the period. Capital Investment Advisors LLC raised its position in Salesforce by 3.3% during the second quarter. Capital Investment Advisors LLC now owns 6,646 shares of the CRM provider’s stock worth $1,709,000 after acquiring an additional 212 shares during the period. Sax Wealth Advisors LLC raised its position in Salesforce by 20.9% during the second quarter. Sax Wealth Advisors LLC now owns 937 shares of the CRM provider’s stock worth $241,000 after acquiring an additional 162 shares during the period. Finally, Opal Wealth Advisors LLC raised its position in Salesforce by 19.4% during the second quarter. Opal Wealth Advisors LLC now owns 1,214 shares of the CRM provider’s stock worth $312,000 after acquiring an additional 197 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,982 shares of company stock worth $41,591,457. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.8 %

CRM stock opened at $361.14 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s 50 day moving average is $308.26 and its two-hundred day moving average is $272.43. The stock has a market cap of $345.25 billion, a P/E ratio of 59.40, a PEG ratio of 3.00 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.31% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. Research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.44%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America upped their price objective on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday. Wedbush upped their price objective on shares of Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. Canaccord Genuity Group upped their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $372.86.

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.