By otakuyassine3@gmail.com 
First Affirmative Financial Network increased its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 4.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,933 shares of the CRM provider’s stock after acquiring an additional 134 shares during the quarter. First Affirmative Financial Network’s holdings in Salesforce were worth $980,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Foundations Investment Advisors LLC grew its position in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce during the 3rd quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC grew its holdings in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares in the last quarter. Aljian Capital Management LLC increased its position in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd raised its stake in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.
Insider Buying and Selling at Salesforce
In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,109,169 shares of company stock worth $383,432,020 in the last three months. 3.20% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Robert W. Baird increased their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Loop Capital increased their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.
View Our Latest Stock Report on CRM
Salesforce Trading Down 1.6 %
Salesforce stock opened at $354.14 on Thursday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business’s fifty day moving average is $337.96 and its 200 day moving average is $296.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $338.91 billion, a PE ratio of 58.25, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during 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 business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. On average, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current 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 given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.45%. Salesforce’s payout ratio is 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.
See Also
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM – Free Report).
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