Charles Carroll Financial Partners LLC Buys 3,850 Shares of Salesforce, Inc. (NYSE:CRM)

Charles Carroll Financial Partners LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 102.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,600 shares of the CRM provider’s stock after buying an additional 3,850 shares during the period. Salesforce makes up about 2.2% of Charles Carroll Financial Partners LLC’s investment portfolio, making the stock its 15th largest holding. Charles Carroll Financial Partners LLC’s holdings in Salesforce were worth $2,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares during the period. Northern Trust Corp grew its holdings in shares of Salesforce by 1.1% in the third quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after acquiring an additional 121,436 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Salesforce by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,251,891 shares of the CRM provider’s stock worth $1,064,978,000 after acquiring an additional 19,888 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Salesforce by 7.1% in the third quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock worth $948,676,000 after acquiring an additional 309,881 shares during the period. Finally, Cerity Partners LLC grew its holdings in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after acquiring an additional 3,226,512 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.6 %

Shares of NYSE CRM traded up $1.53 during midday trading on Friday, reaching $273.66. 4,041,636 shares of the stock were exchanged, compared to its average volume of 5,219,539. The company has a 50 day simple moving average of $294.23 and a 200 day simple moving average of $266.17. The stock has a market capitalization of $264.90 billion, a P/E ratio of 65.16, a PEG ratio of 2.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling

In related news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Brian Millham sold 24,453 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the completion of the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 629,993 shares of company stock valued at $184,255,474. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRM shares. JMP Securities reissued a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a report on Monday, April 15th. BMO Capital Markets boosted their price target on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Finally, Wedbush boosted their price target on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

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.