Salesforce, Inc. (NYSE:CRM) is Consolidated Planning Corp’s 9th Largest Position

Consolidated Planning Corp boosted its stake in Salesforce, Inc. (NYSE:CRM) by 294.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,665 shares of the CRM provider’s stock after acquiring an additional 29,604 shares during the quarter. Salesforce comprises about 1.9% of Consolidated Planning Corp’s portfolio, making the stock its 9th largest position. Consolidated Planning Corp’s holdings in Salesforce were worth $10,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the fourth quarter valued at $31,000. BKM Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $34,000. Pacifica Partners Inc. raised its holdings in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 13,656,166 shares of the company’s stock, valued at approximately $3,892,690,118.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock valued at $182,177,918 in the last 90 days. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of Salesforce stock traded up $1.15 on Friday, reaching $274.29. The stock had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The business’s 50-day moving average price is $295.97 and its two-hundred day moving average price is $263.90. 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 fifty-two week low of $190.76 and a fifty-two week high of $318.71. The stock has a market cap of $266.06 billion, a P/E ratio of 65.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

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. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Jefferies Financial Group boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. JMP Securities reiterated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Monday, April 15th. Evercore ISI boosted their target price on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Piper Sandler restated a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.