Blue Barn Wealth LLC Buys 95 Shares of Salesforce, Inc. (NYSE:CRM)

Blue Barn Wealth LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,302 shares of the CRM provider’s stock after acquiring an additional 95 shares during the quarter. Blue Barn Wealth LLC’s holdings in Salesforce were worth $592,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after buying an additional 96 shares during the period. Red Tortoise LLC purchased a new stake in shares of Salesforce in the first quarter valued at approximately $33,000. Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $35,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler boosted their price target on Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Roth Mkm reiterated a “buy” rating and issued a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. DA Davidson boosted their price target on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. TD Cowen boosted their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Finally, UBS Group boosted their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $304.41.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Craig Conway sold 6,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $239.64, for a total transaction of $1,437,840.00. Following the sale, the director now directly owns 6,855 shares of the company’s stock, valued at approximately $1,642,732.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,692 shares of company stock valued at $21,006,957. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

NYSE:CRM opened at $248.43 on Friday. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.04. The firm has a market cap of $240.73 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 2.22 and a beta of 1.29. The firm’s fifty day moving average is $254.78 and its two-hundred day moving average is $270.11.

Salesforce (NYSE:CRM) last posted 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 company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.52 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is 28.78%.

About Salesforce

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.