Sfmg LLC Buys 324 Shares of Salesforce, Inc. (NYSE:CRM)

Sfmg LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,630 shares of the CRM provider’s stock after purchasing an additional 324 shares during the quarter. Sfmg LLC’s holdings in Salesforce were worth $4,902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. increased its position in Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after purchasing an additional 357 shares during the period. Roundview Capital LLC boosted its stake in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after acquiring an additional 3,809 shares during the last quarter. Covestor Ltd grew its holdings in Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after acquiring an additional 186 shares during the period. Ergoteles LLC bought a new stake in shares of Salesforce during the 1st quarter valued at $455,000. Finally, Mackenzie Financial Corp lifted its stake in shares of Salesforce by 21.3% in the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after purchasing an additional 151,440 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $274.01, for a total value of $4,110,150.00. Following the completion of the sale, the chief executive officer now owns 13,761,166 shares of the company’s stock, valued at $3,770,697,095.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 897,375 shares of company stock valued at $260,206,096. Insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $4.51 during trading on Wednesday, hitting $277.41. 7,624,347 shares of the stock were exchanged, compared to its average volume of 4,686,930. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The stock has a market capitalization of $269.09 billion, a price-to-earnings ratio of 66.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. The company has a fifty day moving average price of $298.35 and a 200-day moving average price of $260.79. 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 (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm posted $1.01 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group upped their price objective on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Wolfe Research reiterated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Wedbush increased their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Truist Financial reissued a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Nine investment 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $307.87.

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.