Highland Capital Management LLC Makes New $4.32 Million Investment in Salesforce, Inc. (NYSE:CRM)

Highland Capital Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,925 shares of the CRM provider's stock, valued at approximately $4,321,000.

Several other large investors also recently modified their holdings of CRM. Truist Financial Corp boosted its position in Salesforce by 0.7% during the 2nd quarter. Truist Financial Corp now owns 410,251 shares of the CRM provider's stock worth $105,476,000 after buying an additional 2,897 shares during the period. Advisory Alpha LLC grew its holdings in Salesforce by 32.1% in the second quarter. Advisory Alpha LLC now owns 1,844 shares of the CRM provider's stock worth $474,000 after purchasing an additional 448 shares during the period. SPC Financial Inc. increased its position in Salesforce by 31.1% in the 2nd quarter. SPC Financial Inc. now owns 1,924 shares of the CRM provider's stock valued at $495,000 after buying an additional 456 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Salesforce during the second quarter worth approximately $454,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter valued at $33,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 3.4 %

CRM traded down $12.12 during mid-day trading on Thursday, reaching $341.88. 5,479,382 shares of the stock were exchanged, compared to its average volume of 6,210,339. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $327.18 billion, a PE ratio of 56.48, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. The company has a 50 day moving average price of $338.53 and a two-hundred day moving average price of $296.43.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm's quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce's payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Guggenheim downgraded Salesforce from a "neutral" rating to a "sell" rating and set a $247.00 price objective on the stock. in a research report on Monday, January 6th. Canaccord Genuity Group upped their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Barclays increased their target price on Salesforce from $415.00 to $425.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $377.63.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the business's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,109,169 shares of company stock valued at $383,432,020. 3.20% of the stock is currently owned by insiders.

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.