Salesforce, Inc. (NYSE:CRM) Shares Purchased by FLC Capital Advisors

FLC Capital Advisors raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,200 shares of the CRM provider’s stock after buying an additional 418 shares during the period. FLC Capital Advisors’ holdings in Salesforce were worth $842,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. increased its position in shares of Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock worth $949,000 after acquiring an additional 357 shares in the last quarter. Roundview Capital LLC boosted its holdings in shares of Salesforce by 18.8% during the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock worth $5,104,000 after buying an additional 3,809 shares during the period. Covestor Ltd boosted its holdings in shares of Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after buying an additional 186 shares during the period. Ergoteles LLC acquired a new position in Salesforce during the 1st quarter valued at $455,000. Finally, Mackenzie Financial Corp raised its stake in Salesforce by 21.3% during the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after purchasing an additional 151,440 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock traded down $4.42 during trading on Wednesday, reaching $301.41. The company’s stock had a trading volume of 3,859,335 shares, compared to its average volume of 5,779,520. The business’s 50-day moving average price is $293.59 and its 200-day moving average price is $251.75. The firm has a market cap of $292.37 billion, a PE ratio of 71.76, a P/E/G ratio of 2.35 and a beta of 1.28. Salesforce, Inc. has a 52 week low of $187.31 and a 52 week high of $318.71. 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:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company 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%. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.01 earnings per share. Equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be given a $0.40 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s payout ratio is presently 9.52%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. Needham & Company LLC increased their price objective on shares of Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Stifel Nicolaus raised their target price on shares of Salesforce from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Truist Financial reissued a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Argus lifted their price objective on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Bank of America raised their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.32.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $306.50, for a total value of $1,287,300.00. Following the completion of the transaction, the insider now owns 105,837 shares of the company’s stock, valued at $32,439,040.50. 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 business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $306.50, for a total value of $1,287,300.00. Following the transaction, the insider now directly owns 105,837 shares of the company’s stock, valued at approximately $32,439,040.50. The disclosure for this sale can be found here. Insiders sold a total of 1,163,507 shares of company stock valued at $325,822,813 over the last quarter. 3.70% of the stock is owned by corporate insiders.

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.