Salesforce, Inc. (NYSE:CRM) Stock Holdings Increased by Kovack Advisors Inc.

Kovack Advisors Inc. raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,815 shares of the CRM provider’s stock after acquiring an additional 271 shares during the period. Kovack Advisors Inc.’s holdings in Salesforce were worth $3,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. Pacifica Partners Inc. raised its position in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth $34,000. Finally, AlphaMark Advisors LLC grew its holdings in shares of Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after buying an additional 125 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 4,204 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Brian Millham sold 4,204 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the sale, the chief executive officer now owns 12,827,327 shares in the company, valued at $3,475,435,977.38. The disclosure for this sale can be found here. Insiders sold a total of 620,793 shares of company stock valued at $182,177,918 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of research analyst reports. Wedbush lifted their price target on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Piper Sandler reiterated a “neutral” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Jefferies Financial Group lifted their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday. Robert W. Baird lifted 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. Finally, KeyCorp initiated coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Performance

Shares of NYSE CRM traded up $1.07 during trading hours on Friday, hitting $274.21. 3,753,890 shares of the company’s stock were exchanged, compared to its average volume of 5,661,873. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $265.98 billion, a price-to-earnings ratio of 65.29, a PEG ratio of 2.12 and a beta of 1.28. The company’s 50-day moving average price is $295.97 and its 200-day moving average price is $263.90.

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

Salesforce Dividend Announcement

The company 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 yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 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.