Nations Financial Group Inc. IA ADV Purchases 104 Shares of Salesforce, Inc. (NYSE:CRM)

Nations Financial Group Inc. IA ADV grew its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,788 shares of the CRM provider’s stock after acquiring an additional 104 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Salesforce were worth $1,260,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Graypoint LLC increased its holdings in shares of Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp grew its holdings in Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after buying an additional 36 shares in the last quarter. JFS Wealth Advisors LLC grew its holdings in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after buying an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its holdings in Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its holdings in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM traded down $6.28 during trading on Friday, reaching $272.29. 8,325,132 shares of the company were exchanged, compared to its average volume of 3,819,083. The company’s 50-day moving average is $286.94 and its two-hundred day moving average is $274.60. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market cap of $263.58 billion, a price-to-earnings ratio of 64.83, a P/E/G ratio of 2.40 and a beta of 1.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. Jefferies Financial Group upped their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. UBS Group upped their price target on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Truist Financial reiterated a “buy” rating and set a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, JMP Securities restated a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.94.

Read Our Latest Stock Report on Salesforce

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was 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 of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Amy E. Weaver sold 942 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 636,344 shares of company stock valued at $184,877,874 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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