Gateway Wealth Partners LLC Makes New $306,000 Investment in Salesforce, Inc. (NYSE:CRM)

Gateway Wealth Partners LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 916 shares of the CRM provider's stock, valued at approximately $306,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truist Financial Corp grew its position in shares of Salesforce by 0.7% in the second quarter. Truist Financial Corp now owns 410,251 shares of the CRM provider's stock valued at $105,476,000 after purchasing an additional 2,897 shares during the last quarter. Advisory Alpha LLC increased its position in Salesforce by 32.1% during the second quarter. Advisory Alpha LLC now owns 1,844 shares of the CRM provider's stock worth $474,000 after buying an additional 448 shares in the last quarter. SPC Financial Inc. raised its holdings in shares of Salesforce by 31.1% in the second quarter. SPC Financial Inc. now owns 1,924 shares of the CRM provider's stock worth $495,000 after acquiring an additional 456 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of Salesforce in the second quarter valued at $454,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Price Performance

NYSE:CRM traded down $10.49 during mid-day trading on Thursday, reaching $343.51. The stock had a trading volume of 7,573,125 shares, compared to its average volume of 6,341,595. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $328.74 billion, a PE ratio of 56.50, a P/E/G ratio of 3.01 and a beta of 1.30. The stock has a 50-day simple moving average of $338.53 and a two-hundred day simple moving average of $296.43.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The business's revenue was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce's dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRM. DA Davidson raised their price objective on Salesforce from $250.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Piper Sandler reaffirmed an "overweight" rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank boosted their target price on Salesforce from $425.00 to $440.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 4th. Erste Group Bank upgraded shares of Salesforce from a "hold" rating to a "buy" rating in a research note on Tuesday, November 19th. Finally, TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and raised their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $377.63.

Insider Activity

In related news, insider Parker Harris sold 3,970 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company's stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 708 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares of the company's stock, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,109,169 shares of company stock worth $383,432,020. 3.20% of the stock is owned by company insiders.

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.