Salesforce, Inc. (NYSE:CRM) Shares Bought by Stonegate Investment Group LLC

Stonegate Investment Group LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,176 shares of the CRM provider’s stock after purchasing an additional 260 shares during the quarter. Stonegate Investment Group LLC’s holdings in Salesforce were worth $1,888,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Union Savings Bank purchased a new position in shares of Salesforce during the 2nd quarter worth approximately $27,000. BKM Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $34,000. Pacifica Partners Inc. grew its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares during the period. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in shares of Salesforce in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at approximately $799,618.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 7,074 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.00, for a total value of $2,009,016.00. Following the transaction, the chief financial officer now owns 38,993 shares in the company, valued at $11,074,012. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 913,175 shares of company stock valued at $261,391,996. Company insiders own 3.70% of the company’s stock.

Salesforce Stock Up 0.6 %

CRM stock opened at $304.02 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a 12 month low of $187.31 and a 12 month high of $318.71. The firm has a market capitalization of $294.90 billion, a PE ratio of 72.39, a P/E/G ratio of 2.32 and a beta of 1.28. The company’s 50 day simple moving average is $296.10 and its 200-day simple moving average is $254.65.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.01 earnings per share. Equities analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRM. Piper Sandler reaffirmed a “neutral” rating and issued a $285.00 price target on shares of Salesforce in a research report on Wednesday, February 28th. Robert W. Baird boosted their price target on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Royal Bank of Canada increased their price objective on shares of Salesforce from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Citigroup lifted their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus increased their target price on Salesforce from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $304.32.

Read Our Latest Analysis on CRM

About Salesforce

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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