Salesforce, Inc. (NYSE:CRM) Shares Acquired by JSF Financial LLC

JSF Financial LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 31.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,572 shares of the CRM provider’s stock after purchasing an additional 373 shares during the quarter. JSF Financial LLC’s holdings in Salesforce were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RBA Wealth Management LLC grew its holdings in Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after buying an additional 574 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Salesforce by 20.3% in the 3rd quarter. Sound Income Strategies LLC now owns 639 shares of the CRM provider’s stock worth $175,000 after buying an additional 108 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Salesforce by 155.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 116,004 shares of the CRM provider’s stock valued at $31,751,000 after purchasing an additional 70,580 shares in the last quarter. Thomasville National Bank boosted its stake in Salesforce by 1.4% during the 3rd quarter. Thomasville National Bank now owns 101,071 shares of the CRM provider’s stock valued at $27,664,000 after purchasing an additional 1,347 shares in the last quarter. Finally, Paladin Wealth LLC bought a new position in Salesforce during the 3rd quarter valued at $159,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Up 0.3 %

CRM opened at $326.95 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market capitalization of $312.89 billion, a P/E ratio of 53.77, a P/E/G ratio of 2.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s fifty day moving average price is $338.97 and its two-hundred day moving average price is $301.03.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. On average, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Activity

In related news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CRM shares. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up from $400.00) 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 increased their price target for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

About Salesforce

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.