Everett Harris & Co. CA Invests $224,000 in Salesforce, Inc. (NYSE:CRM)

Everett Harris & Co. CA acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 852 shares of the CRM provider’s stock, valued at approximately $224,000.

Several other large investors also recently modified their holdings of CRM. Union Savings Bank bought a new position in shares of Salesforce in the 2nd quarter worth $27,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter worth $34,000. GHP Investment Advisors Inc. lifted its stake in Salesforce by 30.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after acquiring an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners bought a new position in Salesforce during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $251.61, for a total transaction of $3,774,150.00. Following the sale, the chief executive officer now directly owns 13,896,166 shares of the company’s stock, valued at $3,496,414,327.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 913,507 shares of company stock valued at $259,814,813. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on CRM shares. Truist Financial restated 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. UBS Group lifted their target price on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Morgan Stanley raised Salesforce from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $290.00 to $350.00 in a report on Thursday, December 21st. Argus lifted their price objective on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Needham & Company LLC lifted their price objective on Salesforce from $275.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $304.32.

Salesforce Trading Down 0.1 %

NYSE CRM traded down $0.20 during trading on Thursday, hitting $301.18. The company had a trading volume of 4,876,082 shares, compared to its average volume of 5,764,980. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $187.31 and a one year high of $318.71. The company has a market cap of $292.14 billion, a price-to-earnings ratio of 71.75, a price-to-earnings-growth ratio of 2.35 and a beta of 1.28. The company’s fifty day moving average is $294.19 and its 200-day moving average is $252.10.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for 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 period in the prior year, the firm earned $1.01 EPS. On average, sell-side analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

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.