3,839 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by LMR Partners LLP

LMR Partners LLP purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,839 shares of the CRM provider's stock, valued at approximately $1,051,000.

A number of other hedge funds also recently bought and sold shares of the company. GLOBALT Investments LLC GA increased its holdings in shares of Salesforce by 3.8% in the 3rd quarter. GLOBALT Investments LLC GA now owns 1,319 shares of the CRM provider's stock worth $361,000 after purchasing an additional 48 shares in the last quarter. Aljian Capital Management LLC lifted its stake in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider's stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. TrinityPoint Wealth LLC boosted its holdings in shares of Salesforce by 5.6% during the 3rd quarter. TrinityPoint Wealth LLC now owns 7,934 shares of the CRM provider's stock valued at $2,172,000 after acquiring an additional 424 shares during the last quarter. Westfuller Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth approximately $280,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Salesforce by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 832,881 shares of the CRM provider's stock valued at $227,967,000 after purchasing an additional 13,793 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 0.7 %

Shares of Salesforce stock traded up $2.27 on Wednesday, hitting $325.70. 3,565,206 shares of the company traded hands, compared to its average volume of 6,295,385. 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 company has a market cap of $311.37 billion, a PE ratio of 56.22, a PEG ratio of 2.94 and a beta of 1.29. The stock's 50 day moving average price is $289.68 and its 200-day moving average price is $267.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $9.33 billion during the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company's revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 EPS. Equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce's dividend payout ratio is currently 27.83%.

Insider Transactions at Salesforce

In other news, insider Sabastian Niles sold 2,484 shares of the company's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at $202,702.68. This represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 140,173 shares of company stock valued at $40,146,206 in the last 90 days. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Oppenheimer reaffirmed an "outperform" rating and issued a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Truist Financial reiterated a "buy" rating and set a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Loop Capital raised their target price on Salesforce from $270.00 to $340.00 and gave the stock a "hold" rating in a research report on Thursday, November 14th. Stifel Nicolaus upped their price target on shares of Salesforce from $320.00 to $350.00 and gave the company a "buy" rating in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $310.00 to $340.00 and gave the stock an "overweight" rating in a research note on Wednesday. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $326.19.

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.