Elevated Capital Advisors LLC Buys Shares of 1,909 Salesforce, Inc. (NYSE:CRM)

Elevated Capital Advisors LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,909 shares of the CRM provider’s stock, valued at approximately $523,000.

Other hedge funds have also recently made changes to their positions in the company. Ruedi Wealth Management Inc. lifted its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Red Tortoise LLC bought a new stake in shares of Salesforce in the 1st quarter worth approximately $33,000. Finally, Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of several analyst reports. Wedbush lifted their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Bank of America reaffirmed a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research note on Friday, September 6th. Truist Financial reaffirmed a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the 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 completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,812 shares of company stock worth $23,418,916 in the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM opened at $284.37 on Thursday. 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 stock has a market capitalization of $275.55 billion, a P/E ratio of 51.15, a P/E/G ratio of 2.61 and a beta of 1.30. The company’s 50-day simple moving average is $268.70 and its two-hundred day simple moving average is $263.24. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last issued 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 net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.