Berry Wealth Group LP Has $649,000 Stake in Salesforce, Inc. (NYSE:CRM)

Berry Wealth Group LP boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,942 shares of the CRM provider’s stock after acquiring an additional 87 shares during the period. Berry Wealth Group LP’s holdings in Salesforce were worth $649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth $27,000. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Salesforce during the third quarter valued at about $53,000. Finally, Friedenthal Financial acquired a new position in shares of Salesforce during the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $341.80 on Friday. The stock has a market capitalization of $327.10 billion, a P/E ratio of 56.22, a P/E/G ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $338.67 and a two-hundred day moving average price of $297.37.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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). The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter 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 analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This represents a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 708 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,669 shares of company stock valued at $383,286,905 in the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Stifel Nicolaus upped their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. DA Davidson raised their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.