Outlook Wealth Advisors LLC Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Outlook Wealth Advisors LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 21.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,474 shares of the CRM provider’s stock after buying an additional 262 shares during the period. Outlook Wealth Advisors LLC’s holdings in Salesforce were worth $444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the fourth quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $26,000. Red Tortoise LLC purchased a new stake in shares of Salesforce during the 1st quarter worth approximately $33,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter valued at approximately $31,000. Finally, BKM Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $34,000. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the completion of the sale, the chief executive officer now owns 13,656,166 shares in the company, valued at approximately $3,892,690,118.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $285.05, for a total value of $4,275,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,656,166 shares of the company’s stock, valued at $3,892,690,118.30. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock worth $182,177,918 over the last three months. Insiders own 3.70% of the company’s stock.

Salesforce Stock Up 0.4 %

NYSE CRM traded up $1.15 on Friday, hitting $274.29. 3,754,585 shares of the stock were exchanged, compared to its average volume of 5,162,527. Salesforce, Inc. has a fifty-two week low of $190.76 and a fifty-two week high of $318.71. The company has a 50-day moving average price of $295.97 and a 200-day moving average price of $263.90. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $266.06 billion, a PE ratio of 65.31, a PEG ratio of 2.10 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm 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 company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors 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 (DPR) is 9.52%.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. KeyCorp started coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Piper Sandler reiterated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Wedbush upped their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Wells Fargo & Company raised their price objective on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Finally, Robert W. Baird increased their price target on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.61.

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.