FORA Capital LLC Has $11.83 Million Stake in Salesforce, Inc. (NYSE:CRM)

FORA Capital LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4,989.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,206 shares of the CRM provider’s stock after buying an additional 42,357 shares during the period. Salesforce comprises approximately 1.4% of FORA Capital LLC’s portfolio, making the stock its 7th largest position. FORA Capital LLC’s holdings in Salesforce were worth $11,826,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Creekmur Asset Management LLC boosted its position in Salesforce by 90.3% during the 1st quarter. Creekmur Asset Management LLC now owns 255 shares of the CRM provider’s stock valued at $77,000 after buying an additional 121 shares during the period. Hancock Whitney Corp boosted its holdings in shares of Salesforce by 1.3% during the first quarter. Hancock Whitney Corp now owns 10,990 shares of the CRM provider’s stock worth $3,310,000 after purchasing an additional 136 shares during the period. Jaffetilchin Investment Partners LLC grew its stake in shares of Salesforce by 53.5% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,609 shares of the CRM provider’s stock worth $1,087,000 after purchasing an additional 1,258 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Salesforce in the first quarter worth about $208,000. Finally, Heartland Bank & Trust Co purchased a new position in Salesforce during the 1st quarter valued at about $1,817,000. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,510 shares of company stock worth $42,475,538 in the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM traded down $9.46 during mid-day trading on Wednesday, reaching $333.72. 1,565,269 shares of the company traded hands, compared to its average volume of 6,273,870. The company’s fifty day moving average price is $298.02 and its 200-day moving average price is $269.44. The stock has a market capitalization of $319.04 billion, a P/E ratio of 59.69, a P/E/G ratio of 3.07 and a beta of 1.29. 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 52-week low of $212.00 and a 52-week high of $348.86.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Analyst Ratings Changes

Several equities research analysts have weighed in on CRM shares. Scotiabank initiated coverage on Salesforce in a report on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 price objective for the company. Raymond James raised their price target on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial boosted their price objective on shares of Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a research report on Monday. Sanford C. Bernstein upped their price objective on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, DA Davidson lifted their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $339.66.

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.