Xponance Inc. Purchases 9,044 Shares of Salesforce, Inc. (NYSE:CRM)

Xponance Inc. lifted its position in Salesforce, Inc. (NYSE:CRM) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 207,261 shares of the CRM provider’s stock after acquiring an additional 9,044 shares during the quarter. Salesforce accounts for 0.5% of Xponance Inc.’s portfolio, making the stock its 26th largest position. Xponance Inc.’s holdings in Salesforce were worth $53,287,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% in the first 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 period. Piscataqua Savings Bank lifted its position 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 worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its stake 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 purchasing an additional 98 shares during the period. Red Tortoise LLC bought a new position in shares of Salesforce in the first quarter worth about $33,000. Finally, Stephens Consulting LLC grew its holdings in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $30,920,275.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the company’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 $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. The disclosure for this sale can be found here. Insiders have sold a total of 63,891 shares of company stock worth $16,306,944 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $266.80 on Monday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year 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. The company’s fifty day moving average price is $254.14 and its 200 day moving average price is $266.18. The company has a market capitalization of $258.53 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for 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%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. On average, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued 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 0.60%. Salesforce’s payout ratio is currently 28.78%.

Analysts Set New Price Targets

A number of equities analysts have commented on CRM shares. Raymond James upped their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Mizuho reduced their price objective on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Piper Sandler raised their price target on Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $306.00.

About Salesforce

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.