Lifestyle Asset Management Inc. Purchases Shares of 1,085 Salesforce, Inc. (NYSE:CRM)

Lifestyle Asset Management Inc. acquired a new position in Salesforce, Inc. (NYSE:CRM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 1,085 shares of the CRM provider’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Umpqua Bank boosted its holdings in shares of Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after buying an additional 34 shares in the last quarter. Nvwm LLC increased its stake in Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares in the last quarter. Prentice Wealth Management LLC boosted its position in shares of Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares in the last quarter. Private Wealth Management Group LLC grew its stake in shares of Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after buying an additional 37 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after buying an additional 38 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $310.78 on Friday. 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 has a 50 day simple moving average of $275.30 and a two-hundred day simple moving average of $263.86. Salesforce, Inc. has a fifty-two week low of $208.84 and a fifty-two week high of $318.71. The company has a market capitalization of $297.11 billion, a price-to-earnings ratio of 54.05, a P/E/G ratio of 2.70 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) 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 analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s quarterly 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 expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.51%. Salesforce’s payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CRM shares. DA Davidson boosted their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Bank of America reiterated a “buy” rating and set a $325.00 price target on shares of Salesforce in a research note on Friday, September 6th. Finally, Canaccord Genuity Group increased their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Nine 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $313.37.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $29,932,595.17. 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 available at the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The stock was 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 directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,573 shares of company stock worth $42,319,874. 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.