DB Fitzpatrick & Co Inc Has $1.18 Million Holdings in Salesforce, Inc. (NYSE:CRM)

DB Fitzpatrick & Co Inc trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 30.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,530 shares of the CRM provider’s stock after selling 1,548 shares during the quarter. DB Fitzpatrick & Co Inc’s holdings in Salesforce were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter valued at $33,000. Godsey & Gibb Inc. boosted its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC increased its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new position in Salesforce during the third quarter valued at about $53,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $324.77 on Friday. The company has a 50 day moving average price of $337.25 and a 200 day moving average price of $291.08. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the business earned $1.62 EPS. Salesforce’s revenue was up 8.3% on a year-over-year basis. Analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s payout ratio is presently 26.32%.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRM. Truist Financial reiterated 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. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.