RWA Wealth Partners LLC Acquires 2,324 Shares of Salesforce, Inc. (NYSE:CRM)

RWA Wealth Partners LLC increased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,026 shares of the CRM provider's stock after acquiring an additional 2,324 shares during the period. RWA Wealth Partners LLC's holdings in Salesforce were worth $3,686,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Salesforce during the 4th quarter valued at $3,599,867,000. Raymond James Financial Inc. bought a new stake in Salesforce during the fourth quarter worth approximately $1,173,564,000. Jennison Associates LLC grew its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider's stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB raised its position in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider's stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in Salesforce by 56,872.2% during the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider's stock valued at $311,998,000 after purchasing an additional 931,566 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robin L. Washington purchased 1,695 shares of Salesforce stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $294.61 per share, for a total transaction of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares of the company's stock, valued at $12,799,331.45. This trade represents a 4.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,660 shares of company stock valued at $14,095,336 in the last ninety days. 3.20% of the stock is owned by company insiders.

Remove Ads

Salesforce Trading Up 0.7 %

NYSE CRM traded up $1.82 during mid-day trading on Tuesday, reaching $270.18. 4,596,911 shares of the stock were exchanged, compared to its average volume of 6,638,618. The stock has a market cap of $259.64 billion, a P/E ratio of 44.44, a P/E/G ratio of 2.58 and a beta of 1.35. 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 one year low of $212.00 and a one year high of $369.00. The stock has a 50 day simple moving average of $308.26 and a 200-day simple moving average of $311.67.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. Salesforce's dividend payout ratio (DPR) is 26.10%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research reports. JMP Securities reaffirmed a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Piper Sandler restated an "overweight" rating on shares of Salesforce in a report on Wednesday, March 19th. Truist Financial reiterated a "buy" rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Oppenheimer decreased their price objective on Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, Macquarie reaffirmed a "neutral" rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $361.42.

About Salesforce

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.