218 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Noble Wealth Management PBC

Noble Wealth Management PBC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 218 shares of the CRM provider’s stock, valued at approximately $73,000.

A number of other hedge funds have also made changes to their positions in the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc acquired a new stake in Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial purchased a new position in Salesforce in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $297.63 on Friday. The company has a market cap of $284.83 billion, a P/E ratio of 48.95, a PEG ratio of 2.58 and a beta of 1.31. The firm has a fifty day moving average price of $329.11 and a 200 day moving average price of $307.58. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s payout ratio is currently 25.16%.

Analyst Ratings Changes

CRM has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday. Stifel Nicolaus dropped their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday. Citigroup reiterated a “cautious” rating on shares of Salesforce in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Oppenheimer lowered their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday. Two analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $365.32.

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was 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 represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,102,572 shares of company stock worth $381,283,706. 3.20% of the stock is currently owned by insiders.

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.