Modus Advisors LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

Modus Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,406 shares of the CRM provider’s stock after buying an additional 59 shares during the quarter. Salesforce accounts for 1.5% of Modus Advisors LLC’s holdings, making the stock its 23rd largest holding. Modus Advisors LLC’s holdings in Salesforce were worth $4,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nabity Jensen Investment Management Inc bought a new stake in Salesforce during the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC lifted its position 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 valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC grew its position in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. AIA Group Ltd grew its holdings in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM traded up $0.84 on Friday, hitting $331.50. The company had a trading volume of 588,367 shares, compared to its average volume of 2,644,834. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market cap of $317.25 billion, a PE ratio of 54.52, a PEG ratio of 3.21 and a beta of 1.30. The business has a 50 day moving average of $331.09 and a 200 day moving average of $285.02. 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 released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,186,017 shares of company stock valued at $405,971,793. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Stifel Nicolaus boosted their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $378.86.

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.