Long Run Wealth Advisors LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Long Run Wealth Advisors LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,962 shares of the CRM provider’s stock, valued at approximately $537,000.

A number of other large investors also recently bought and sold shares of CRM. Ruedi Wealth Management Inc. lifted its stake in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% in 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 in the last quarter. Clear Investment Research LLC lifted its position 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 buying an additional 98 shares during the last quarter. Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the 2nd quarter worth approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last three months, insiders sold 146,003 shares of company stock worth $41,494,084. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.2 %

Shares of CRM opened at $297.53 on Wednesday. The firm has a market cap of $284.44 billion, a P/E ratio of 51.74, a PEG ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $204.69 and a 12 month high of $318.71. The stock’s 50 day moving average is $274.34 and its two-hundred day moving average is $263.56. 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 (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.63 EPS. Analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CRM shares. Truist Financial reissued a “buy” rating and set a $315.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Canaccord Genuity Group increased their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Robert W. Baird increased their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Citigroup upped their price objective on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

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.