RFG Holdings Inc. Has $640,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

12 Oct 2024, 20:48 by Sarita Garza · The Markets Daily

RFG Holdings Inc. raised its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 15.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,338 shares of the CRM provider’s stock after purchasing an additional 310 shares during the quarter. RFG Holdings Inc.’s holdings in Salesforce were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Ruedi Wealth Management Inc. lifted its holdings in Salesforce by 186.7% during the 1st 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 last quarter. Piscataqua Savings Bank increased its holdings in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Red Tortoise LLC bought a new position in shares of Salesforce in the first quarter valued at approximately $33,000. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter worth approximately $33,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial restated a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. BMO Capital Markets upped their price target on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, UBS Group raised their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Get Our Latest Stock Analysis on Salesforce

Salesforce Stock Down 0.7 %

Salesforce stock opened at $288.10 on Friday. 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, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a fifty day simple moving average of $261.93 and a 200 day simple moving average of $264.17. The company has a market cap of $275.42 billion, a P/E ratio of 50.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company earned $1.63 EPS. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00. Following the completion of the sale, the insider now owns 118,514 shares in the company, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,181,807.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 80,612 shares of company stock valued at $21,283,087. 3.20% of the stock is owned by corporate insiders.

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