Salesforce, Inc. (NYSE:CRM) Shares Sold by Silicon Valley Capital Partners

by · The Markets Daily

Silicon Valley Capital Partners lessened its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 8.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,278 shares of the CRM provider’s stock after selling 3,115 shares during the period. Salesforce comprises approximately 1.2% of Silicon Valley Capital Partners’ holdings, making the stock its 25th biggest holding. Silicon Valley Capital Partners’ holdings in Salesforce were worth $9,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Mutual Advisors LLC grew its holdings in shares of Salesforce by 3.8% during the first quarter. Mutual Advisors LLC now owns 10,661 shares of the CRM provider’s stock valued at $3,211,000 after purchasing an additional 387 shares during the last quarter. Proficio Capital Partners LLC boosted its position in shares of Salesforce by 13.2% in the 1st quarter. Proficio Capital Partners LLC now owns 2,232 shares of the CRM provider’s stock valued at $672,000 after purchasing an additional 261 shares during the period. United Community Bank increased its position in shares of Salesforce by 31.0% in the first quarter. United Community Bank now owns 1,330 shares of the CRM provider’s stock worth $401,000 after acquiring an additional 315 shares in the last quarter. AA Financial Advisors LLC acquired a new stake in Salesforce during the 1st quarter valued at $1,813,000. Finally, Wellington Shields & Co. LLC lifted its stake in Salesforce by 113.7% in the 1st quarter. Wellington Shields & Co. LLC now owns 1,169 shares of the CRM provider’s stock worth $352,000 after acquiring an additional 622 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on 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 owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale 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 Salesforce stock in a transaction that occurred on 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 approximately $1,998,741.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,303 shares of company stock worth $42,024,385 over the last three months. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Roth Mkm reissued a “buy” rating and issued a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Truist Financial restated a “buy” rating and set a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Finally, DA Davidson lifted their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

Check Out Our Latest Analysis on CRM

Salesforce Stock Performance

NYSE CRM opened at $296.55 on Monday. The company has a market cap of $283.50 billion, a P/E ratio of 51.26, a P/E/G ratio of 2.64 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71. The business’s 50 day moving average price is $273.02 and its 200-day moving average price is $263.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.63 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

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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