Cavalier Investments LLC Has $5.69 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Cavalier Investments LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 4.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,019 shares of the CRM provider’s stock after purchasing an additional 672 shares during the period. Salesforce makes up about 1.9% of Cavalier Investments LLC’s portfolio, making the stock its 10th largest holding. Cavalier Investments LLC’s holdings in Salesforce were worth $5,690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC raised its position 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 buying an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new position in shares of Salesforce in the 3rd quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC raised its position in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares in the last quarter. Aljian Capital Management LLC raised its position in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd raised its position in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock valued at $381,283,706 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Canaccord Genuity Group boosted their target price on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $374.47.

Salesforce Trading Down 0.7 %

NYSE:CRM opened at $306.02 on Wednesday. The firm has a market cap of $292.86 billion, a P/E ratio of 50.33, a P/E/G ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm’s fifty day moving average is $331.46 and its 200-day moving average is $306.97. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company 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 firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 earnings per share. Equities analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

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