Clear Harbor Asset Management LLC Purchases 449 Shares of Salesforce, Inc. (NYSE:CRM)

Clear Harbor Asset Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,780 shares of the CRM provider’s stock after acquiring an additional 449 shares during the period. Clear Harbor Asset Management LLC’s holdings in Salesforce were worth $2,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter worth about $27,000. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter worth approximately $33,000. Annapolis Financial Services LLC lifted its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Finally, Friedenthal Financial acquired a new position in shares of Salesforce during the 4th quarter valued at $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $324.77 on Tuesday. The firm’s 50-day simple moving average is $337.31 and its two-hundred day simple moving average is $292.02. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market cap of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30. 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 posted its quarterly earnings data 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 net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the business earned $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 969 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,173,477 shares of company stock worth $402,596,964. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CRM. Loop Capital boosted their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Robert W. Baird upped their price objective on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Citigroup boosted their target price on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.63.

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.