618 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Wealthquest Corp

Wealthquest Corp purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 618 shares of the CRM provider’s stock, valued at approximately $207,000.

Several other institutional investors have also recently made changes to their positions in the stock. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the second quarter worth $33,000. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC grew its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Salesforce during the third quarter worth about $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,173,477 shares of company stock valued at $402,596,964. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.5 %

Shares of NYSE:CRM opened at $324.77 on Tuesday. The firm has a market capitalization of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a fifty day moving average of $337.31 and a 200 day moving average of $292.02.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the company from $380.00 to $400.00 in a research report on Friday. Scotiabank increased their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Macquarie restated a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, BMO Capital Markets upped their target price on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $377.63.

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.