Salesforce, Inc. (NYSE:CRM) Position Increased by Mission Wealth Management LP

Mission Wealth Management LP boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,262 shares of the CRM provider’s stock after acquiring an additional 383 shares during the quarter. Mission Wealth Management LP’s holdings in Salesforce were worth $2,963,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Salesforce by 1.1% during the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after acquiring an additional 121,436 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Salesforce by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,251,891 shares of the CRM provider’s stock valued at $1,064,978,000 after purchasing an additional 19,888 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Salesforce by 7.1% during the third quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock valued at $948,676,000 after purchasing an additional 309,881 shares during the last quarter. Cerity Partners LLC raised its holdings in Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Salesforce by 16.1% during the third quarter. American Century Companies Inc. now owns 3,198,494 shares of the CRM provider’s stock valued at $648,591,000 after buying an additional 444,652 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The disclosure for this sale can be found here. Insiders sold a total of 610,793 shares of company stock worth $179,074,618 over the last three months. Corporate insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. Wells Fargo & Company lifted their price objective on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, April 15th. Bank of America boosted their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Argus boosted their price objective on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, UBS Group boosted their price objective on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Trading Down 2.5 %

Salesforce stock opened at $268.94 on Wednesday. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $260.87 billion, a P/E ratio of 64.03, a PEG ratio of 2.12 and a beta of 1.28. The stock has a 50-day simple moving average of $295.34 and a 200 day simple moving average of $265.65.

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

Salesforce Announces Dividend

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

Salesforce Company 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.