50,165 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Transform Wealth LLC

Transform Wealth LLC bought a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,165 shares of the CRM provider's stock, valued at approximately $13,751,000. Salesforce makes up 0.9% of Transform Wealth LLC's holdings, making the stock its 22nd biggest position.

A number of other institutional investors have also added to or reduced their stakes in CRM. Capital Research Global Investors boosted its position in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider's stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares during the period. GQG Partners LLC bought a new stake in shares of Salesforce during the 1st quarter worth about $910,220,000. Swedbank AB acquired a new position in Salesforce in the 1st quarter valued at about $874,748,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider's stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the period. Finally, AMF Tjanstepension AB grew its holdings in Salesforce by 376.1% in the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider's stock valued at $370,873,000 after buying an additional 1,139,472 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRM. Morgan Stanley lifted their target price on Salesforce from $320.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Wedbush increased their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, September 27th. Piper Sandler downgraded shares of Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 10th. Raymond James boosted their price target on Salesforce from $325.00 to $350.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 29th. Finally, Erste Group Bank restated a "hold" rating on shares of Salesforce in a research note on Wednesday, September 11th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $310.74.

Salesforce Trading Up 0.9 %

NYSE:CRM traded up $2.51 on Wednesday, reaching $290.86. 3,454,297 shares of the stock traded hands, compared to its average volume of 6,448,634. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company's 50 day moving average is $263.98 and its 200-day moving average is $263.46. The firm has a market capitalization of $281.84 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last posted 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. The company 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%. Salesforce's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce's payout ratio is 28.78%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,353,653.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Parker Harris sold 4,200 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,353,653.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sabastian Niles sold 2,484 shares of the firm's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company's stock, valued at approximately $202,702.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,429,961 over the last 90 days. Company insiders own 3.20% of the company's stock.

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.