Warren Street Wealth Advisors LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Warren Street Wealth Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 896 shares of the CRM provider’s stock after acquiring an additional 34 shares during the period. Warren Street Wealth Advisors LLC’s holdings in Salesforce were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RBA Wealth Management LLC increased its holdings in Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after buying an additional 574 shares during the period. CX Institutional increased its stake in shares of Salesforce by 2.0% in the third quarter. CX Institutional now owns 5,637 shares of the CRM provider’s stock worth $1,543,000 after acquiring an additional 110 shares during the period. Creative Planning increased its stake in shares of Salesforce by 8.0% in the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after acquiring an additional 17,350 shares during the period. Regatta Capital Group LLC raised its holdings in shares of Salesforce by 3.3% during the third quarter. Regatta Capital Group LLC now owns 6,453 shares of the CRM provider’s stock worth $1,766,000 after purchasing an additional 204 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its position in Salesforce by 3.7% during the third quarter. Foster Victor Wealth Advisors LLC now owns 51,281 shares of the CRM provider’s stock valued at $14,765,000 after purchasing an additional 1,846 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.6 %

CRM opened at $326.26 on Thursday. The firm has a market capitalization of $312.23 billion, a price-to-earnings ratio of 53.66, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. The company’s 50 day simple moving average is $338.74 and its two-hundred day simple moving average is $301.96. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. Analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued 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 of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling

In related news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,111,420 shares of company stock worth $384,366,700. Insiders own 3.20% of the company’s stock.

Salesforce Company 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.