Signature Resources Capital Management LLC Purchases Shares of 97 Salesforce, Inc. (NYSE:CRM)

Signature Resources Capital Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 97 shares of the CRM provider’s stock, valued at approximately $26,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the 4th quarter valued at about $31,000. BKM Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at about $34,000. Pacifica Partners Inc. increased its position in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, AlphaMark Advisors LLC increased its position in Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the sale, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders have sold 629,993 shares of company stock worth $184,255,474 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.6 %

Shares of NYSE:CRM traded up $1.53 during trading on Friday, reaching $273.66. 4,041,636 shares of the stock were exchanged, compared to its average volume of 5,219,539. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The firm’s 50-day moving average price is $294.23 and its 200 day moving average price is $266.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $264.90 billion, a price-to-earnings ratio of 65.16, a price-to-earnings-growth ratio of 2.09 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for 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 quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 EPS. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRM shares. Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Wells Fargo & Company boosted their price target on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a report on Monday, April 15th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, Citigroup lifted their price objective on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $310.61.

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.