Signature Estate & Investment Advisors LLC Has $60.45 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Signature Estate & Investment Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 16.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,843 shares of the CRM provider’s stock after acquiring an additional 31,099 shares during the quarter. Salesforce accounts for about 1.4% of Signature Estate & Investment Advisors LLC’s holdings, making the stock its 23rd largest position. Signature Estate & Investment Advisors LLC’s holdings in Salesforce were worth $60,447,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital Research Global Investors increased its holdings in Salesforce by 26.9% in 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 during the period. GQG Partners LLC acquired a new stake in shares of Salesforce during the 1st quarter valued at about $910,220,000. Swedbank AB acquired a new stake in shares of Salesforce during the 1st quarter valued at about $874,748,000. Veritas Asset Management LLP acquired a new position in Salesforce in the third quarter worth about $733,805,000. Finally, 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 period. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,373 shares of company stock worth $41,250,680 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

Shares of CRM opened at $331.56 on Friday. The stock has a market cap of $316.97 billion, a P/E ratio of 57.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The stock’s 50-day moving average price is $283.28 and its two-hundred day moving average price is $265.84. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

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 analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.63 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. BMO Capital Markets increased their target price on Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Oppenheimer reiterated an “outperform” rating and set a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $322.51.

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.