Thurston Springer Miller Herd & Titak Inc. Has $475,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Thurston Springer Miller Herd & Titak Inc. increased its position in Salesforce, Inc. (NYSE:CRM) by 186.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,420 shares of the CRM provider’s stock after purchasing an additional 924 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Salesforce were worth $475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC grew its stake in Salesforce by 18.1% in the fourth quarter. Park Avenue Securities LLC now owns 30,708 shares of the CRM provider’s stock valued at $10,267,000 after acquiring an additional 4,704 shares during the period. Kathmere Capital Management LLC lifted its holdings in shares of Salesforce by 7.7% in the 4th quarter. Kathmere Capital Management LLC now owns 1,064 shares of the CRM provider’s stock worth $356,000 after purchasing an additional 76 shares in the last quarter. Rockland Trust Co. acquired a new stake in Salesforce in the 4th quarter valued at $200,000. Fifth Third Wealth Advisors LLC increased its stake in Salesforce by 5.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 14,721 shares of the CRM provider’s stock valued at $4,922,000 after purchasing an additional 731 shares in the last quarter. Finally, Floyd Financial Group LLC acquired a new position in Salesforce during the fourth quarter worth $599,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on CRM shares. DA Davidson lifted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Piper Sandler reiterated an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Trading Down 0.8 %

Shares of CRM stock opened at $321.01 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company’s fifty day simple moving average is $336.76 and its two-hundred day simple moving average is $290.66. 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 stock has a market capitalization of $307.21 billion, a price-to-earnings ratio of 52.80, a PEG ratio of 3.20 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,177,617 shares of company stock valued at $403,542,975. Corporate insiders own 3.20% of the company’s stock.

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.