Sonen Capital LLC Buys 317 Shares of Salesforce, Inc. (NYSE:CRM)

Sonen Capital LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 13.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,636 shares of the CRM provider’s stock after purchasing an additional 317 shares during the quarter. Salesforce accounts for 1.3% of Sonen Capital LLC’s holdings, making the stock its 26th biggest holding. Sonen Capital LLC’s holdings in Salesforce were worth $694,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spinnaker Trust lifted its stake in Salesforce by 3.7% in the fourth quarter. Spinnaker Trust now owns 29,707 shares of the CRM provider’s stock worth $7,817,000 after purchasing an additional 1,054 shares during the last quarter. Kovack Advisors Inc. lifted its stake in shares of Salesforce by 2.3% during the 4th quarter. Kovack Advisors Inc. now owns 11,815 shares of the CRM provider’s stock worth $3,109,000 after acquiring an additional 271 shares during the last quarter. Callan Capital LLC boosted its holdings in Salesforce by 15.2% during the 4th quarter. Callan Capital LLC now owns 1,582 shares of the CRM provider’s stock valued at $416,000 after acquiring an additional 209 shares during the period. Motley Fool Asset Management LLC grew its position in Salesforce by 1.4% in the 4th quarter. Motley Fool Asset Management LLC now owns 71,112 shares of the CRM provider’s stock valued at $18,712,000 after acquiring an additional 988 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC increased its stake in Salesforce by 0.7% in the fourth quarter. Bradley & Co. Private Wealth Management LLC now owns 27,462 shares of the CRM provider’s stock worth $7,226,000 after purchasing an additional 187 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $274.29 on Friday. The company has a market cap of $266.06 billion, a price-to-earnings ratio of 65.31, a PEG ratio of 2.11 and a beta of 1.28. 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 stock’s fifty day moving average price is $295.97 and its 200 day moving average price is $264.30. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the business earned $1.01 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $285.05, for a total value of $4,275,750.00. Following the completion of the sale, the chief executive officer now owns 13,656,166 shares in the company, valued at approximately $3,892,690,118.30. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock worth $182,177,918 over the last 90 days. 3.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CRM shares. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Finally, Citigroup lifted their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.61.

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.