Salesforce, Inc. (NYSE:CRM) Shares Purchased by Conscious Wealth Investments LLC

Conscious Wealth Investments LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,108 shares of the CRM provider’s stock after acquiring an additional 62 shares during the quarter. Salesforce comprises approximately 2.2% of Conscious Wealth Investments LLC’s holdings, making the stock its 21st largest position. Conscious Wealth Investments LLC’s holdings in Salesforce were worth $3,280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Salesforce during the 4th quarter valued at about $6,070,000. World Equity Group Inc. bought a new stake in shares of Salesforce during the 4th quarter worth about $426,000. Delap Wealth Advisory LLC lifted its stake in shares of Salesforce by 2.7% in the 4th quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider’s stock worth $447,000 after acquiring an additional 35 shares during the period. Finally, Howard Capital Management Inc. boosted its holdings in shares of Salesforce by 9.5% in the fourth quarter. Howard Capital Management Inc. now owns 6,290 shares of the CRM provider’s stock valued at $2,103,000 after acquiring an additional 548 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,102,114 shares of company stock valued at $381,142,656. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. Redburn Atlantic started coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. Scotiabank boosted their price objective on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, BMO Capital Markets reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Trading Down 2.8 %

NYSE:CRM opened at $309.54 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a P/E/G ratio of 2.58 and a beta of 1.31. The stock’s 50 day moving average price is $333.34 and its 200 day moving average price is $306.18. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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 analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

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.