HB Wealth Management LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 11.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 26,718 shares of the CRM provider's stock after purchasing an additional 2,674 shares during the period. HB Wealth Management LLC's holdings in Salesforce were worth $8,934,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the business. Aviance Capital Partners LLC boosted its position in Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider's stock worth $1,860,000 after acquiring an additional 33 shares during the period. EWA LLC increased its holdings in shares of Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider's stock valued at $548,000 after purchasing an additional 33 shares during the period. Umpqua Bank raised its stake in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider's stock valued at $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC lifted its holdings in Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider's stock worth $891,000 after purchasing an additional 34 shares during the period. Finally, Nvwm LLC grew its position in Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider's stock valued at $667,000 after buying an additional 36 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Salesforce Stock Up 1.5 %
NYSE:CRM traded up $4.77 during trading hours on Friday, reaching $324.77. The company's stock had a trading volume of 6,283,814 shares, compared to its average volume of 4,604,853. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business's 50-day moving average is $337.31 and its 200-day moving average is $291.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.
Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the company posted $1.62 EPS. The business's revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.
Salesforce Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce's payout ratio is 26.32%.
Insider Buying and Selling
In related news, CFO Amy E. Weaver sold 897 shares of the business's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares of the company's stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company's stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Company insiders own 3.20% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on CRM shares. Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. Truist Financial restated a "buy" rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Northland Capmk upgraded Salesforce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. Stifel Nicolaus upped their price objective on Salesforce from $390.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Bank of America lifted their target price on Salesforce from $390.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given 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.
View Our Latest Analysis on Salesforce
Salesforce Company Profile
(
Free Report)
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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