Foundations Investment Advisors LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

22 Oct 2024, 13:34 by Kim Johansen · The Markets Daily

Foundations Investment Advisors LLC raised its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 18.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,721 shares of the CRM provider’s stock after purchasing an additional 4,891 shares during the period. Foundations Investment Advisors LLC’s holdings in Salesforce were worth $8,682,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ruedi Wealth Management Inc. grew its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank boosted its stake in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce in the first quarter worth approximately $33,000. Finally, Stephens Consulting LLC boosted its stake 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 worth $33,000 after acquiring an additional 125 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 969 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Brian Millham sold 969 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total value of $245,767.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,110 shares of company stock worth $20,292,760 in the last quarter. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CRM shares. JPMorgan Chase & Co. lifted their price target on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Roth Mkm reiterated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $311.66.

Check Out Our Latest Stock Analysis on Salesforce

Salesforce Price Performance

CRM opened at $291.33 on Tuesday. The stock’s 50-day moving average price is $267.44 and its 200 day moving average price is $263.18. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month 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 $282.30 billion, a price-to-earnings ratio of 52.40, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Salesforce Company Profile

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