Harbor Advisory Corp MA Makes New $224,000 Investment in Salesforce, Inc. (NYSE:CRM)

Harbor Advisory Corp MA bought a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 671 shares of the CRM provider’s stock, valued at approximately $224,000.

A number of other large investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its stake in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC grew its stake 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 worth $15,885,000 after acquiring an additional 6,938 shares during the last quarter. Aljian Capital Management LLC grew its stake in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd grew its stake in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRM. Piper Sandler restated an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank upped their target price on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Citigroup upped their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Down 0.8 %

NYSE CRM opened at $324.50 on Wednesday. The business has a fifty day moving average price of $338.89 and a 200 day moving average price of $301.53. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 company has a market cap of $310.55 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 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 analyst estimates of $9.35 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

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.