Salesforce, Inc. (NYSE:CRM) Shares Acquired by Archford Capital Strategies LLC

Archford Capital Strategies LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,024 shares of the CRM provider’s stock after acquiring an additional 234 shares during the quarter. Archford Capital Strategies LLC’s holdings in Salesforce were worth $2,683,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Sachetta LLC boosted its holdings in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Aviance Capital Partners LLC grew its position in shares of Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares in the last quarter. EWA LLC increased its stake in shares of Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank raised its holdings in Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares in the last quarter. Finally, Principal Street Partners LLC boosted its stake in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after acquiring an additional 34 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,173,891 shares of company stock worth $402,840,388. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $333.47 on Friday. The business has a fifty day simple moving average of $336.73 and a 200-day simple moving average of $294.01. The firm has a market cap of $319.13 billion, a PE ratio of 54.85, a P/E/G ratio of 3.01 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Salesforce, Inc. will post 7.48 EPS 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. DA Davidson upped their price target on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, 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.