Breed s Hill Capital LLC Invests $281,000 in Salesforce, Inc. (NYSE:CRM)

Breed s Hill Capital LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,067 shares of the CRM provider’s stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bear Mountain Capital Inc. acquired a new position in Salesforce in the fourth quarter worth $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce during the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the 4th quarter valued at about $31,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $34,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the transaction, the chief executive officer now directly owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the transaction, the chief executive officer now owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The disclosure for this sale can be found here. Insiders have sold a total of 639,193 shares of company stock worth $186,392,348 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

CRM traded down $3.80 on Thursday, reaching $275.17. The company had a trading volume of 4,661,157 shares, compared to its average volume of 5,493,350. The company’s fifty day moving average is $292.87 and its 200 day moving average is $268.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $266.36 billion, a P/E ratio of 65.52, a P/E/G ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. As a group, analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRM shares. JPMorgan Chase & Co. increased their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Piper Sandler restated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Truist Financial reiterated a “buy” rating and issued a $360.00 price target (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Finally, Argus lifted their price target on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

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.