Bogart Wealth LLC Has $10.82 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Bogart Wealth LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,105 shares of the CRM provider’s stock after buying an additional 1,364 shares during the period. Bogart Wealth LLC’s holdings in Salesforce were worth $10,816,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce in the 4th quarter valued at about $31,000. BKM Wealth Management LLC bought a new stake in Salesforce in the 4th quarter valued at about $34,000. Finally, Pacifica Partners Inc. increased its holdings in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the transaction, the chief executive officer now owns 12,707,327 shares in the company, valued at $3,425,005,846.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the sale, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The disclosure for this sale can be found here. Insiders have sold a total of 624,193 shares of company stock worth $182,212,898 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

Salesforce Trading Down 2.2 %

Shares of CRM stock traded down $6.05 during trading hours on Thursday, hitting $272.92. 1,395,283 shares of the company were exchanged, compared to its average volume of 5,454,884. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a 50 day simple moving average of $293.29 and a two-hundred day simple moving average of $267.99. The firm has a market cap of $264.19 billion, a P/E ratio of 65.35, a P/E/G ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Wedbush raised their price objective on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Bank of America upped their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Truist Financial restated a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. KeyCorp began coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating for the company. Finally, Jefferies Financial Group lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.61.

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.