Obermeyer Wood Investment Counsel Lllp Has $46.15 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Obermeyer Wood Investment Counsel Lllp lowered its stake in Salesforce, Inc. (NYSE:CRM) by 1.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,375 shares of the CRM provider’s stock after selling 2,871 shares during the quarter. Salesforce comprises approximately 3.2% of Obermeyer Wood Investment Counsel Lllp’s holdings, making the stock its 10th largest holding. Obermeyer Wood Investment Counsel Lllp’s holdings in Salesforce were worth $46,148,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the 4th quarter worth about $26,000. Pacifica Partners Inc. raised its position in 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 during the period. BKM Wealth Management LLC purchased a new stake in Salesforce in the 4th quarter worth about $34,000. GHP Investment Advisors Inc. raised its position in Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares during the period. Finally, Live Oak Investment Partners purchased a new stake in Salesforce in the 4th quarter worth about $36,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE CRM traded down $4.40 during trading on Thursday, hitting $271.92. The company had a trading volume of 5,831,368 shares, compared to its average volume of 5,708,409. The stock has a fifty day simple moving average of $298.10 and a two-hundred day simple moving average of $260.89. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The firm has a market capitalization of $263.76 billion, a price-to-earnings ratio of 64.71, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. 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 the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s payout ratio is presently 9.52%.

Insider Buying and Selling

In related news, insider R David Schmaier sold 3,910 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the transaction, the insider now directly owns 19,463 shares in the company, valued at $5,347,848.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $284.11, for a total transaction of $2,841,100.00. Following the transaction, the insider now directly owns 60,976 shares in the company, valued at $17,323,891.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 3,910 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the transaction, the insider now owns 19,463 shares in the company, valued at $5,347,848.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 907,149 shares of company stock worth $262,952,448. 3.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRM shares. Oppenheimer increased their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Truist Financial restated a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $290.00 to $350.00 in a research note on Thursday, December 21st. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Monday. Finally, KeyCorp assumed coverage on shares of Salesforce in a research note on Thursday, March 21st. They issued 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $307.87.

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.