Salesforce, Inc. (NYSE:CRM) Holdings Lifted by Northern Financial Advisors Inc

Northern Financial Advisors Inc increased its holdings in Salesforce, Inc. (NYSE:CRM) by 26.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,041 shares of the CRM provider’s stock after acquiring an additional 431 shares during the period. Northern Financial Advisors Inc’s holdings in Salesforce were worth $537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Graypoint LLC grew its stake in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp raised its position in shares of Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares during the period. Opes Wealth Management LLC grew its stake in Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares in the last quarter. Prentice Wealth Management LLC grew its stake in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of Salesforce by 3.9% during the fourth quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after acquiring an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.6 %

Shares of Salesforce stock traded up $1.57 on Wednesday, hitting $278.75. The stock had a trading volume of 1,302,479 shares, compared to its average volume of 5,479,521. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The stock’s 50-day simple moving average is $293.29 and its two-hundred day simple moving average is $267.99. The stock has a market cap of $269.83 billion, a price-to-earnings ratio of 66.59, a PEG ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. In related news, COO Brian Millham sold 24,453 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $292.43, for a total transaction of $4,386,450.00. Following the completion of the sale, the chief executive officer now owns 13,521,166 shares of the company’s stock, valued at approximately $3,953,994,573.38. The disclosure for this sale can be found here. Insiders have sold 619,993 shares of company stock valued at $181,048,574 over the last ninety days. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRM shares. Piper Sandler reissued a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Stifel Nicolaus reissued a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Argus boosted their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Jefferies Financial Group increased their price objective on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Finally, Wedbush upped their target price on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.61.

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.