Quarry LP Sells 152 Shares of Salesforce, Inc. (NYSE:CRM)

Quarry LP decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 58.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108 shares of the CRM provider’s stock after selling 152 shares during the period. Quarry LP’s holdings in Salesforce were worth $28,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Waterloo Capital L.P. bought a new stake in shares of Salesforce during the 4th quarter worth $342,000. Regal Investment Advisors LLC increased its position in shares of Salesforce by 3.3% during the 4th quarter. Regal Investment Advisors LLC now owns 2,246 shares of the CRM provider’s stock valued at $591,000 after purchasing an additional 71 shares during the last quarter. Humankind Investments LLC purchased a new position in shares of Salesforce during the 4th quarter valued at about $227,000. Woodward Diversified Capital LLC purchased a new stake in Salesforce in the fourth quarter worth approximately $214,000. Finally, Keyes Stange & Wooten Wealth Management LLC bought a new position in Salesforce during the fourth quarter valued at approximately $230,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock worth $20,071,723 in the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.1 %

Salesforce stock opened at $284.48 on Tuesday. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a fifty day simple moving average of $258.53 and a two-hundred day simple moving average of $264.22. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $275.66 billion, a price-to-earnings ratio of 51.04, a PEG ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 EPS. Equities analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Canaccord Genuity Group upped their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Oppenheimer boosted their target price on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wedbush lifted their price target on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $310.74.

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.