607 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Prospect Financial Services LLC

Prospect Financial Services LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 607 shares of the CRM provider’s stock, valued at approximately $203,000.

A number of other large investors have also recently modified their holdings of the business. Foundations Investment Advisors LLC lifted its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new position in Salesforce in the 3rd quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC lifted its position in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its stake in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the period. Finally, AIA Group Ltd grew its holdings in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,109,169 shares of company stock worth $383,432,020 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Robert W. Baird upped their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson lifted their price objective on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Piper Sandler restated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Up 4.0 %

CRM opened at $347.26 on Tuesday. The stock has a market capitalization of $332.33 billion, a price-to-earnings ratio of 57.12, a PEG ratio of 3.01 and a beta of 1.30. The firm has a 50 day moving average price of $336.73 and a 200-day moving average price of $294.60. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the company earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 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.