Ariadne Wealth Management LP Purchases New Stake in Salesforce, Inc. (NYSE:CRM)

Ariadne Wealth Management LP purchased a new position in Salesforce, Inc. (NYSE:CRM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 883 shares of the CRM provider’s stock, valued at approximately $227,000.

Other hedge funds have also recently modified their holdings of the company. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank increased its stake in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC raised its holdings in shares of 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 Salesforce in the first quarter worth $33,000. Finally, Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% in 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 in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 1.1 %

CRM stock opened at $273.68 on Tuesday. The business’s 50-day moving average is $256.65 and its two-hundred day moving average is $264.81. The company has a market cap of $265.20 billion, a price-to-earnings ratio of 49.22, a P/E/G ratio of 2.39 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. 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 posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The firm’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling

In other news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were 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 in the company, valued at approximately $28,362,888.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’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 completion of the transaction, the director now directly owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,985 shares of company stock valued at $17,632,363. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on CRM shares. Canaccord Genuity Group upped their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wedbush raised their price objective on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial reiterated a “buy” rating and set a $315.00 target price (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Finally, TD Cowen lifted their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $308.03.

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.