High Note Wealth LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

High Note Wealth LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 20.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,800 shares of the CRM provider’s stock after buying an additional 311 shares during the quarter. High Note Wealth LLC’s holdings in Salesforce were worth $474,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Salesforce during the fourth quarter valued at about $1,420,381,000. Moneta Group Investment Advisors LLC grew its stake in shares of Salesforce by 125,717.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after acquiring an additional 10,252,257 shares in the last quarter. Starboard Value LP acquired a new stake in shares of Salesforce during the fourth quarter valued at about $401,215,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Salesforce during the second quarter valued at about $352,498,000. Finally, Barclays PLC grew its stake in shares of Salesforce by 99.7% during the second quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider’s stock valued at $675,370,000 after acquiring an additional 1,595,733 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRM. Evercore ISI lifted their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus lifted their price target on Salesforce from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group raised their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Piper Sandler reaffirmed a “neutral” rating and set a $285.00 price target on shares of Salesforce in a report on Wednesday, February 28th. Finally, Citigroup lifted their price target on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $304.32.

Insider Transactions at Salesforce

In other news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $258.58, for a total transaction of $2,585,800.00. Following the transaction, the insider now owns 59,861 shares in the company, valued at approximately $15,478,857.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Amy E. Weaver sold 2,536 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $260.54, for a total value of $660,729.44. Following the sale, the chief financial officer now owns 37,979 shares of the company’s stock, valued at $9,895,048.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $258.58, for a total transaction of $2,585,800.00. Following the completion of the sale, the insider now directly owns 59,861 shares in the company, valued at approximately $15,478,857.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 898,507 shares of company stock worth $255,293,063. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Down 1.4 %

CRM stock opened at $301.41 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $187.31 and a 1 year high of $318.71. The company has a fifty day simple moving average of $293.59 and a 200 day simple moving average of $251.75. The firm has a market cap of $292.37 billion, a PE ratio of 71.76, a PEG ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.01 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

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.