Burns J W & Co. Inc. NY Sells 145 Shares of Salesforce, Inc. (NYSE:CRM)

Burns J W & Co. Inc. NY lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,995 shares of the CRM provider’s stock after selling 145 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Salesforce were worth $3,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRM. Elevated Capital Advisors LLC raised its holdings in Salesforce by 29.5% during the 4th quarter. Elevated Capital Advisors LLC now owns 2,472 shares of the CRM provider’s stock valued at $827,000 after buying an additional 563 shares during the last quarter. Friedenthal Financial bought a new position in shares of Salesforce during the fourth quarter valued at about $55,000. Bar Harbor Wealth Management boosted its holdings in shares of Salesforce by 4.5% during the fourth quarter. Bar Harbor Wealth Management now owns 14,666 shares of the CRM provider’s stock worth $4,903,000 after purchasing an additional 627 shares during the period. Consilio Wealth Advisors LLC grew its stake in shares of Salesforce by 5.4% in the fourth quarter. Consilio Wealth Advisors LLC now owns 1,096 shares of the CRM provider’s stock worth $366,000 after purchasing an additional 56 shares during the last quarter. Finally, Persium Advisors LLC bought a new position in Salesforce during the 4th quarter valued at approximately $608,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRM. Truist Financial reissued a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup boosted their price target on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Piper Sandler restated an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $376.05.

Insider Activity

In related news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,177,617 shares of company stock valued at $403,542,975 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $319.39 on Tuesday. The company has a market cap of $305.66 billion, a P/E ratio of 52.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. 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 1 year low of $212.00 and a 1 year high of $369.00. The stock’s fifty day moving average price is $336.25 and its 200-day moving average price is $290.19.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 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.