B&L Asset Management LLC Acquires Shares in Salesforce, Inc.

B&L Asset Management LLC has recently taken a new position in Salesforce, Inc. (NYSE:CRM) during the third quarter, as revealed in its latest Form 13F filing with the Securities & Exchange Commission. The firm has purchased 2,369 shares of the well-known customer relationship management provider, with an estimated value of around $648,000.

Institutional Investors in Salesforce

A variety of other institutional investors and hedge funds have also been active in buying and selling Salesforce shares. For instance, Aviance Capital Partners LLC increased its stake by 0.5% in the third quarter, now holding 6,797 shares valued at $1,860,000, after acquiring an additional 33 shares during this timeframe. Similarly, Umpqua Bank raised its holdings by 0.4%, totaling 7,708 shares worth $2,110,000, having acquired 34 more shares last quarter.

Principal Street Partners LLC boosted its Salesforce holdings by 1.0% during the third quarter, now owning 3,297 shares valued at approximately $891,000 after purchasing 34 additional shares. Additionally, Nvwm LLC raised its position by 1.4% with 2,565 shares worth $667,000 following a purchase of 36 shares. Finally, Prentice Wealth Management LLC increased its stake by 1.5%, holding 2,506 shares now valued at $686,000 after acquiring 37 shares during the last quarter. Currently, institutional investors and hedge funds own a substantial 80.43% of Salesforce's stock.

Insider Transactions in Salesforce

In recent news, insider Sabastian Niles sold 2,484 shares of Salesforce on September 11, generating a total of $608,108.04 at an average price of $244.81 per share. Following this transaction, he retains 828 shares valued at around $202,702.68, marking a considerable 75.00% reduction in his holdings. Additionally, CAO Sundeep G. Reddy sold 413 shares on October 23, completing a transaction worth $117,824.77 at an average price of $285.29. After this sale, Reddy possesses 7,006 shares valued at approximately $1,998,741.74, reflecting a 5.57% decrease in his stock ownership. Notably, insiders have sold 144,510 shares valued at $42,475,538 over the last quarter, while they currently own 3.20% of the company's stock.

Salesforce Stock Performance

The stock of Salesforce was stable at $329.99 as of the last trading session. The company has seen a fifty-two-week low of $212.00 and a high of $348.86. Salesforce boasts a market capitalization of $315.47 billion, with a P/E ratio of 57.39, a PEG ratio of 2.99, and a beta of 1.29. Currently, the 50-day moving average stands at $302.12 and the 200-day moving average is at $270.61. Additionally, the company reports a debt-to-equity ratio of 0.15, and both its current and quick ratios are 1.04.

Salesforce's most recent earnings report, released on August 28, showed an EPS of $2.56, surpassing analysts' consensus estimate of $2.36 by $0.20. The firm reported a net margin of 15.44% and a return on equity of 12.01%, with quarterly revenue reaching $9.33 billion against an expectation of $9.22 billion. Compared to the same time last year, revenues increased by 8.5%. Analysts still expect Salesforce to report 7.54 earnings per share for the current fiscal year.

Dividend Information for Investors

The company also recently announced its quarterly dividend, which was distributed on October 8. The dividend of $0.40 per share was paid to investors who were record holders as of September 18. This results in an annualized dividend of $1.60, yielding 0.48%. Currently, Salesforce has a dividend payout ratio of 27.83%.

Market Outlook for Salesforce

Several research firms have provided updated evaluations for Salesforce. For example, Wells Fargo & Company adjusted their target price from $275.00 to $330.00, labeling the stock as "equal weight" in a note on November 12. Phillip Securities reinforced an "accumulate" rating with a $305.00 target price on August 30. Furthermore, Stifel Nicolaus raised their price target from $320.00 to $350.00, classifying it as a "buy" in October. Cfra set a $343.00 target, while JMP Securities increased their forecast from $342.00 to $450.00, marking it as a "market outperform". In total, eight analysts have given the stock a hold rating, twenty-eight have labeled it as a buy, and four have issued a strong buy. Presently, the consensus rating for Salesforce stands at "Moderate Buy" with an average target price of $341.89.

Overview of Salesforce

Salesforce, Inc. specializes in customer relationship management (CRM) technology, connecting companies with customers globally. Its services encompass sales solutions for data storage, lead management, opportunity forecasting, analytical insights, and personalized customer support at scale.

investment, stocks, Salesforce