KWB Wealth Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

KWB Wealth increased its holdings in Salesforce, Inc. (NYSE:CRM) by 87.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,467 shares of the CRM provider’s stock after purchasing an additional 685 shares during the period. KWB Wealth’s holdings in Salesforce were worth $490,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter worth approximately $27,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter valued at $33,000. Annapolis Financial Services LLC grew its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Finally, Friedenthal Financial bought a new position in Salesforce in the 4th quarter valued at $55,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 1.3 %

Salesforce stock opened at $323.31 on Wednesday. The firm has a market cap of $309.41 billion, a price-to-earnings ratio of 53.18, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The business’s 50-day moving average price is $336.76 and its 200 day moving average price is $290.66. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $1.62 earnings per share. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Morgan Stanley upped their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group upped their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,177,617 shares of company stock valued at $403,542,975. Company insiders own 3.20% of the company’s stock.

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.