First Horizon Advisors Inc. Purchases 621 Shares of Salesforce, Inc. (NYSE:CRM)

First Horizon Advisors Inc. grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,451 shares of the CRM provider’s stock after acquiring an additional 621 shares during the quarter. First Horizon Advisors Inc.’s holdings in Salesforce were worth $6,503,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth $27,000. Arlington Trust Co LLC raised its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter valued at about $31,000. Finally, Collier Financial bought a new stake in Salesforce during the 4th quarter worth approximately $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Down 2.8 %

Shares of Salesforce stock opened at $309.54 on Monday. The company’s 50-day moving average price is $333.34 and its 200-day moving average price is $306.18. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its 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 during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. On average, equities analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

CRM has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 6th. Piper Sandler set a $405.00 price objective on shares of Salesforce in a report on Tuesday, January 21st. Scotiabank increased their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Oppenheimer reissued an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $375.53.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the sale, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,102,114 shares of company stock worth $381,142,656 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce 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.