Oak Ridge Investments LLC Takes $683,000 Position in Salesforce, Inc. (NYSE:CRM)

Oak Ridge Investments LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,044 shares of the CRM provider’s stock, valued at approximately $683,000.

Other large investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the second quarter valued at approximately $33,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during 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 lifted its position in shares of Salesforce by 135.6% during the 3rd 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 acquired a new position in shares of Salesforce in the 3rd quarter valued at $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock worth $405,595,158 in the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CRM shares. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Barclays boosted their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price objective on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler restated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Performance

NYSE CRM opened at $324.77 on Monday. The business has a 50 day moving average price of $337.31 and a 200 day moving average price of $291.80. 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 company has a market capitalization 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 released 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). The firm had revenue of $9.44 billion for 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%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

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.