Orrstown Financial Services Inc. Purchases 1,814 Shares of Salesforce, Inc. (NYSE:CRM)

Orrstown Financial Services Inc. lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 76.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,194 shares of the CRM provider’s stock after purchasing an additional 1,814 shares during the period. Orrstown Financial Services Inc.’s holdings in Salesforce were worth $1,148,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CRM. Ruedi Wealth Management Inc. lifted its holdings 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 worth $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC acquired a new stake in Salesforce in the 1st quarter worth $33,000. Finally, Stephens Consulting LLC increased its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,581 shares of company stock valued at $22,616,017. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $293.81 on Tuesday. Salesforce, Inc. has a 1-year low of $197.08 and a 1-year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $284.70 billion, a PE ratio of 52.84, a P/E/G ratio of 2.61 and a beta of 1.30. The business’s 50-day moving average price is $270.30 and its two-hundred day moving average price is $262.75.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The business 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 period in the previous year, the firm earned $1.63 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.54%. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent research reports. BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Bank of America restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. UBS Group raised their target price on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Truist Financial reissued a “buy” rating and issued a $315.00 price target (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, Wedbush raised their price objective on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce 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.