Newbridge Financial Services Group Inc. Purchases 1,079 Shares of Salesforce, Inc. (NYSE:CRM)

Newbridge Financial Services Group Inc. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,621 shares of the CRM provider’s stock after purchasing an additional 1,079 shares during the quarter. Salesforce accounts for about 1.3% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 18th largest holding. Newbridge Financial Services Group Inc.’s holdings in Salesforce were worth $5,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Kestra Private Wealth Services LLC increased its holdings in shares of Salesforce by 0.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 68,514 shares of the CRM provider’s stock worth $22,906,000 after buying an additional 603 shares during the period. Stephens Inc. AR grew its position in Salesforce by 9.3% during the 4th quarter. Stephens Inc. AR now owns 107,083 shares of the CRM provider’s stock worth $35,801,000 after acquiring an additional 9,081 shares during the last quarter. Howland Capital Management LLC increased its stake in Salesforce by 2.3% in the 4th quarter. Howland Capital Management LLC now owns 1,768 shares of the CRM provider’s stock worth $592,000 after purchasing an additional 39 shares during the period. Quotient Wealth Partners LLC lifted its position in Salesforce by 4.7% in the fourth quarter. Quotient Wealth Partners LLC now owns 4,825 shares of the CRM provider’s stock valued at $1,613,000 after purchasing an additional 217 shares during the last quarter. Finally, AlphaStar Capital Management LLC purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $276,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $325.81 on Friday. The stock’s 50 day simple moving average is $338.97 and its 200 day simple moving average is $300.36. 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 stock has a market capitalization of $311.80 billion, a PE ratio of 53.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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 business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the company earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CRM. Loop Capital lifted their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Stifel Nicolaus boosted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One equities research 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. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.