True North Advisors LLC Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

True North Advisors LLC grew its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 24.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,096 shares of the CRM provider’s stock after purchasing an additional 413 shares during the period. True North Advisors LLC’s holdings in Salesforce were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Union Savings Bank bought a new position in Salesforce during the second quarter valued at approximately $27,000. Pacifica Partners Inc. boosted its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at $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 bought a new stake in Salesforce in the fourth quarter worth $36,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM opened at $302.18 on Tuesday. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71. The firm has a market capitalization of $293.11 billion, a price-to-earnings ratio of 71.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $295.12 and a 200 day moving average of $253.43.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings data 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler reiterated a “neutral” rating and issued a $285.00 price objective on shares of Salesforce in a report on Wednesday, February 28th. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $290.00 to $350.00 in a research note on Thursday, December 21st. Royal Bank of Canada increased their price target on shares of Salesforce from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. UBS Group boosted their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Oppenheimer increased their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $304.32.

Read Our Latest Analysis on Salesforce

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $301.45, for a total value of $4,521,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,041,166 shares of the company’s stock, valued at $3,931,259,490.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 2,890 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $893,934.80. Following the completion of the transaction, the insider now directly owns 60,416 shares in the company, valued at approximately $18,687,877.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $301.45, for a total transaction of $4,521,750.00. Following the sale, the chief executive officer now owns 13,041,166 shares in the company, valued at approximately $3,931,259,490.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 873,722 shares of company stock worth $249,479,433. Company insiders own 3.70% of the company’s stock.

About Salesforce

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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