Avior Wealth Management LLC Buys 166 Shares of Salesforce, Inc. (NYSE:CRM)

Avior Wealth Management LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,523 shares of the CRM provider’s stock after buying an additional 166 shares during the quarter. Avior Wealth Management LLC’s holdings in Salesforce were worth $5,344,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors raised its position in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. Capital International Investors increased its stake in Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. Legal & General Group Plc raised its position in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after purchasing an additional 877,495 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of Salesforce stock opened at $320.15 on Tuesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The firm’s 50-day moving average is $288.14 and its 200 day moving average is $266.96. The stock has a market cap of $306.06 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 2.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

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

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued 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 0.50%. Salesforce’s payout ratio is 27.83%.

Analyst Ratings Changes

Several research firms have commented on CRM. Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Sanford C. Bernstein raised their price target on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $325.36.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,173 shares of company stock worth $40,146,206 over the last three months. 3.20% of the stock is currently owned by company insiders.

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.