Salesforce, Inc. (NYSE:CRM) Shares Purchased by Veery Capital LLC

Veery Capital LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,475 shares of the CRM provider’s stock after acquiring an additional 64 shares during the quarter. Veery Capital LLC’s holdings in Salesforce were worth $493,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Udine Wealth Management Inc. grew its holdings in Salesforce by 0.9% during the fourth quarter. Udine Wealth Management Inc. now owns 6,838 shares of the CRM provider’s stock worth $2,286,000 after acquiring an additional 61 shares during the period. Smith Salley Wealth Management lifted its holdings in Salesforce by 8.3% in the 4th quarter. Smith Salley Wealth Management now owns 5,442 shares of the CRM provider’s stock valued at $1,820,000 after acquiring an additional 418 shares during the last quarter. Jackson Square Capital LLC boosted its position in shares of Salesforce by 41.0% during the 4th quarter. Jackson Square Capital LLC now owns 1,148 shares of the CRM provider’s stock valued at $384,000 after purchasing an additional 334 shares in the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Salesforce by 0.9% in the 4th quarter. Ameritas Advisory Services LLC now owns 7,588 shares of the CRM provider’s stock worth $2,537,000 after purchasing an additional 64 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of Salesforce by 11.1% in the 4th quarter. HB Wealth Management LLC now owns 26,718 shares of the CRM provider’s stock worth $8,934,000 after purchasing an additional 2,674 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets raised their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the stock from $380.00 to $400.00 in a research report on Friday. Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial reissued a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

Shares of NYSE CRM opened at $324.77 on Friday. The firm has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business has a fifty day simple moving average of $337.31 and a 200 day simple moving average of $291.56. 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 (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction dated 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 in the company, 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 1,183,838 shares of company stock worth $405,595,158. Company insiders own 3.20% of the company’s stock.

Salesforce Company 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.