Salesforce, Inc. (NYSE:CRM) Shares Purchased by Valley Brook Capital Group Inc.

Valley Brook Capital Group Inc. grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,779 shares of the CRM provider’s stock after acquiring an additional 105 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Salesforce were worth $1,308,000 as of its most recent filing with the SEC.

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

Salesforce Price Performance

CRM stock traded up $2.89 during midday trading on Thursday, hitting $309.79. The company’s stock had a trading volume of 475,388 shares, compared to its average volume of 6,231,516. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12 month low of $208.84 and a 12 month high of $318.71. The company has a 50 day moving average of $275.30 and a two-hundred day moving average of $263.86. The firm has a market capitalization of $296.16 billion, a price-to-earnings ratio of 53.37, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Insiders Place Their Bets

In related news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 149,973 shares of company stock valued at $42,672,142 in the last quarter. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report 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 report on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. BMO Capital Markets lifted their price objective on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Canaccord Genuity Group lifted their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Nine equities research 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 presently has an average rating of “Moderate Buy” and an average price target 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.