Global Retirement Partners LLC Acquires 1,341 Shares of Salesforce, Inc. (NYSE:CRM)

Global Retirement Partners LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,366 shares of the CRM provider’s stock after acquiring an additional 1,341 shares during the period. Global Retirement Partners LLC’s holdings in Salesforce were worth $5,137,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter worth $27,000. Arlington Trust Co LLC increased its stake in 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 buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new stake in Salesforce in the 4th quarter valued at about $31,000. Finally, Collier Financial bought a new position in Salesforce in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM opened at $328.62 on Wednesday. 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 firm has a 50 day moving average of $335.64 and a two-hundred day moving average of $304.52. The firm has a market capitalization of $314.49 billion, a PE ratio of 54.05, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid 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 0.49%. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In other news, insider Parker Harris sold 652 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. This trade represents a 11.74 % 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 valued at $384,366,700 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group raised their target price on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.