Salesforce, Inc. (NYSE:CRM) Shares Purchased by Montag A & Associates Inc.

Montag A & Associates Inc. raised its holdings in Salesforce, Inc. (NYSE:CRM) by 125.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,835 shares of the CRM provider’s stock after acquiring an additional 3,804 shares during the period. Montag A & Associates Inc.’s holdings in Salesforce were worth $1,799,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new position in Salesforce in the 4th quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new position in Salesforce in the 4th quarter valued at $31,000. BKM Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at $34,000. Finally, Pacifica Partners Inc. grew its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRM shares. Stifel Nicolaus reissued a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. Bank of America boosted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Truist Financial reissued a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Citigroup boosted their price objective on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $350.00 price objective (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total transaction of $1,164,324.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at $32,091,541.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 639,193 shares of company stock worth $186,392,348. 3.70% of the stock is owned by insiders.

Salesforce Stock Down 1.4 %

Shares of Salesforce stock traded down $3.80 during trading on Thursday, reaching $275.17. The company had a trading volume of 4,661,157 shares, compared to its average volume of 5,493,350. The company has a market cap of $266.36 billion, a price-to-earnings ratio of 65.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The firm’s fifty day moving average is $292.87 and its 200-day moving average is $268.07. 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 $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last issued 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 business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 EPS. On average, analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

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

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.