Salesforce, Inc. (NYSE:CRM) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,594 shares of the CRM provider’s stock after acquiring an additional 427 shares during the quarter. Salesforce accounts for about 0.8% of Brooklyn Investment Group’s portfolio, making the stock its 24th largest position. Brooklyn Investment Group’s holdings in Salesforce were worth $2,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of CRM. Waterloo Capital L.P. increased its position in shares of Salesforce by 42.5% in the 2nd quarter. Waterloo Capital L.P. now owns 1,533 shares of the CRM provider’s stock valued at $394,000 after purchasing an additional 457 shares during the last quarter. ProVise Management Group LLC increased its holdings in Salesforce by 1.0% in the second quarter. ProVise Management Group LLC now owns 5,518 shares of the CRM provider’s stock valued at $1,419,000 after buying an additional 56 shares during the last quarter. Intech Investment Management LLC increased its holdings in Salesforce by 308.1% in the second quarter. Intech Investment Management LLC now owns 202,074 shares of the CRM provider’s stock valued at $51,953,000 after buying an additional 152,561 shares during the last quarter. Wealth Advisors of Tampa Bay LLC increased its holdings in Salesforce by 0.9% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 18,358 shares of the CRM provider’s stock valued at $4,720,000 after buying an additional 155 shares during the last quarter. Finally, GM Advisory Group LLC purchased a new position in shares of Salesforce in the 2nd quarter valued at about $227,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the firm’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 $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,183,838 shares of company stock valued at $405,595,158. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $324.77 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50 day moving average price is $337.25 and its 200 day moving average price is $291.08. The firm has a market cap of $310.81 billion, a P/E ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 EPS. On average, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on CRM. The Goldman Sachs Group increased their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research report on Monday, January 6th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Northland Securities restated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.