Mainstay Capital Management LLC ADV Has $1.89 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Mainstay Capital Management LLC ADV boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,654 shares of the CRM provider’s stock after buying an additional 189 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in Salesforce were worth $1,890,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth $27,000. Arlington Trust Co LLC lifted its stake 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 valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $30,000. Asset Planning Inc acquired a new position in shares of Salesforce in the 4th quarter valued at $31,000. Finally, Collier Financial acquired a new position in shares of Salesforce in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 16,487 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $340.68, for a total value of $5,616,791.16. Following the completion of the transaction, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at $566,210.16. This trade represents a 90.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,102,114 shares of company stock worth $381,142,656 in the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $309.54 on Monday. The firm 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. The company has a quick ratio of 1.11, a current 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’s fifty day simple moving average is $333.34 and its 200 day simple moving average is $306.18.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. On average, analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid 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 0.52%. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Piper Sandler set a $405.00 price target on Salesforce in a research note on Tuesday, January 21st. UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Wedbush restated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Company 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.