Oak Harvest Investment Services Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Oak Harvest Investment Services raised its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 37.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,048 shares of the CRM provider's stock after acquiring an additional 3,557 shares during the quarter. Oak Harvest Investment Services' holdings in Salesforce were worth $4,362,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC grew its stake in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider's stock worth $3,360,215,000 after buying an additional 314,530 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock valued at $1,632,599,000 after buying an additional 57,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Salesforce by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider's stock worth $1,618,407,000 after acquiring an additional 96,381 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 3,970 shares of the company's stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company's stock, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,669 shares of company stock worth $383,286,905 over the last three months. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on CRM shares. Bank of America upped their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. UBS Group raised their target price on Salesforce from $275.00 to $360.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. KeyCorp upgraded Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. DA Davidson upped their target price on Salesforce from $250.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Truist Financial reissued a "buy" rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.63.

Salesforce Trading Down 3.0 %

NYSE CRM opened at $343.51 on Friday. 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 firm has a market cap of $328.74 billion, a price-to-earnings ratio of 56.50, a PEG ratio of 3.20 and a beta of 1.30. The firm has a 50 day simple moving average of $338.53 and a 200-day simple moving average of $296.43. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

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.

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