Maia Wealth LLC Has $1.56 Million Stake in Salesforce, Inc. (NYSE:CRM)

by · The Cerbat Gem

Maia Wealth LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 69.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,447 shares of the CRM provider’s stock after buying an additional 2,227 shares during the quarter. Maia Wealth LLC’s holdings in Salesforce were worth $1,562,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CRM. Capital Research Global Investors grew its position in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares during the period. GQG Partners LLC acquired a new stake in shares of Salesforce during the 1st quarter worth approximately $910,220,000. Swedbank AB acquired a new position in Salesforce during the first quarter valued at approximately $874,748,000. Veritas Asset Management LLP acquired a new position in Salesforce during the third quarter valued at approximately $733,805,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in 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 valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. DA Davidson boosted their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Sanford C. Bernstein boosted their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $313.37.

Check Out Our Latest Report on CRM

Salesforce Stock Performance

Shares of CRM stock traded up $6.94 on Wednesday, hitting $304.43. The company’s stock had a trading volume of 1,020,349 shares, compared to its average volume of 6,233,019. 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’s 50 day moving average is $274.34 and its 200-day moving average is $263.56. 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 $291.04 billion, a PE ratio of 51.74, a PEG ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the company posted $1.63 earnings per share. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were 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 $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were 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 $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the sale, the chief accounting officer now owns 6,506 shares in the company, valued at $1,888,236.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,003 shares of company stock worth $41,494,084 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company Profile

(Free Report)

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.

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