Puff Wealth Management LLC Acquires New Shares in Salesforce, Inc. (NYSE:CRM)

Puff Wealth Management LLC bought a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, HoldingsChannel reports. The fund bought 864 shares of the CRM provider’s stock, valued at approximately $289,000.

Other large investors have also recently bought and sold shares of the company. RBA Wealth Management LLC boosted its position in Salesforce by 3.7% during 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. Creative Planning lifted its holdings in shares of Salesforce by 8.0% during the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after purchasing an additional 17,350 shares during the period. Good Life Advisors LLC grew its stake in shares of Salesforce by 35.5% in the third quarter. Good Life Advisors LLC now owns 2,216 shares of the CRM provider’s stock worth $607,000 after purchasing an additional 581 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its holdings in Salesforce by 5.2% in the third quarter. Onyx Bridge Wealth Group LLC now owns 999 shares of the CRM provider’s stock valued at $273,000 after purchasing an additional 49 shares during the period. Finally, Sax Wealth Advisors LLC raised its position in Salesforce by 102.7% during the 3rd quarter. Sax Wealth Advisors LLC now owns 1,899 shares of the CRM provider’s stock worth $520,000 after purchasing an additional 962 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 719 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CRM shares. Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus boosted their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. Finally, Scotiabank boosted their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

Shares of Salesforce stock opened at $325.49 on Friday. The firm has a market capitalization of $311.49 billion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. 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’s fifty day simple moving average is $336.56 and its 200 day simple moving average is $302.79. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the firm posted $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) 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.