Salesforce, Inc. (NYSE:CRM) Shares Purchased by Trifecta Capital Advisors LLC

Trifecta Capital Advisors LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,071 shares of the CRM provider’s stock after purchasing an additional 771 shares during the quarter. Salesforce accounts for approximately 1.6% of Trifecta Capital Advisors LLC’s holdings, making the stock its 19th biggest position. Trifecta Capital Advisors LLC’s holdings in Salesforce were worth $8,048,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CRM. Veritas Asset Management LLP acquired a new stake in shares of Salesforce during the third quarter worth $733,805,000. Jennison Associates LLC lifted its holdings in shares of Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB lifted its holdings in shares of Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares during the period. KBC Group NV lifted its holdings in shares of Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the period. Finally, State Street Corp lifted its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler set a $405.00 price objective on Salesforce in a research report on Tuesday, January 21st. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Loop Capital cut their price objective on Salesforce from $360.00 to $330.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Finally, Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) 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 issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Stock Down 0.5 %

Shares of NYSE:CRM opened at $308.27 on Tuesday. The stock’s 50-day moving average price is $332.36 and its two-hundred day moving average price is $306.60. 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 market cap of $295.01 billion, a price-to-earnings ratio of 50.70, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued 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 return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business posted $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In other news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at $40,886,746.74. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 in the last three months. 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.