Resonant Capital Advisors LLC Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Resonant Capital Advisors LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,641 shares of the CRM provider’s stock after buying an additional 71 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Salesforce were worth $432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce during the 4th quarter valued at about $26,000. BKM Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at about $34,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the period. AlphaMark Advisors LLC lifted its holdings in shares of Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after buying an additional 125 shares during the period. Finally, Glass Jacobson Investment Advisors llc acquired a new position in shares of Salesforce in the 4th quarter valued at about $37,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction 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 $799,618.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction 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 $799,618.99. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $282.55, for a total value of $4,238,250.00. Following the transaction, the chief executive officer now owns 13,731,166 shares of the company’s stock, valued at $3,879,740,953.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 628,184 shares of company stock worth $184,794,698. Company insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wolfe Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a report on Tuesday. KeyCorp started coverage on Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Bank of America upped their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Nine investment 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. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Price Performance

CRM stock opened at $270.37 on Friday. The firm has a market capitalization of $262.26 billion, a PE ratio of 64.39, a price-to-earnings-growth ratio of 2.09 and a beta of 1.28. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day simple moving average of $297.28 and a 200-day simple moving average of $261.43.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s payout ratio is 9.52%.

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.