Patron Partners LLC Buys 146 Shares of Salesforce, Inc. (NYSE:CRM)

Patron Partners LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,939 shares of the CRM provider’s stock after acquiring an additional 146 shares during the quarter. Patron Partners LLC’s holdings in Salesforce were worth $648,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Veritas Asset Management LLP acquired a new position in shares of Salesforce during the 3rd quarter worth approximately $733,805,000. Jennison Associates LLC grew its stake in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB boosted its position in shares of Salesforce by 46.7% in the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. KBC Group NV raised its stake in shares of Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after purchasing an additional 998,628 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.7 %

CRM opened at $339.28 on Tuesday. 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 business’s fifty day moving average is $338.67 and its two-hundred day moving average is $297.99. The company has a market cap of $324.69 billion, a price-to-earnings ratio of 55.80, a PEG ratio of 3.09 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced 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 was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio is presently 26.32%.

Wall Street Analyst Weigh In

CRM has been the subject of several recent research reports. Needham & Company LLC increased their price objective on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. DA Davidson boosted their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price for the company from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This 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 1,104,699 shares of company stock valued at $382,108,847. 3.20% of the stock is owned by corporate insiders.

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.