Salesforce, Inc. (NYSE:CRM) Shares Bought by Traveka Wealth LLC

Traveka Wealth LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 4.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,996 shares of the CRM provider’s stock after purchasing an additional 77 shares during the period. Traveka Wealth LLC’s holdings in Salesforce were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CRM. Spartan Planning & Wealth Management lifted its stake in shares of Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after acquiring an additional 625 shares during the period. Chicago Partners Investment Group LLC raised its position in Salesforce by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after acquiring an additional 95 shares during the last quarter. XN LP raised its position in Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares during the last quarter. M&G Plc acquired a new position in Salesforce during the first quarter worth about $2,178,000. Finally, First Foundation Advisors raised its position in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after acquiring an additional 228 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Truist Financial reissued a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Wells Fargo & Company boosted their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Finally, Loop Capital reiterated a “hold” rating and set a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Eight investment 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. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $2.62 during trading on Tuesday, hitting $287.19. 1,009,800 shares of the stock were exchanged, compared to its average volume of 6,506,003. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a market capitalization of $278.29 billion, a price-to-earnings ratio of 51.57, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The company’s fifty day simple moving average is $259.05 and its 200-day simple moving average is $264.06. 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 announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the business’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 $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’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 $229,434.66. Following the transaction, the chief financial officer now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,412 shares of company stock valued at $20,071,723 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.