Salesforce, Inc. (NYSE:CRM) Shares Acquired by BigSur Wealth Management LLC

BigSur Wealth Management LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,000 shares of the CRM provider’s stock after buying an additional 50 shares during the period. BigSur Wealth Management LLC’s holdings in Salesforce were worth $3,347,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Veritas Asset Management LLP acquired a new position in shares of Salesforce during the third quarter worth $733,805,000. KBC Group NV lifted its holdings in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after buying an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after buying an additional 998,628 shares during the last quarter. Farallon Capital Management LLC boosted its position in shares of Salesforce by 51.0% during the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after acquiring an additional 994,670 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CRM shares. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Jefferies Financial Group boosted their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Up 1.5 %

CRM opened at $324.77 on Monday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. The business’s fifty day moving average is $337.31 and its two-hundred day moving average is $291.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. Analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 6,161 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the sale, the chief operating officer now owns 969 shares of the company’s stock, valued at $280,767.75. This represents a 86.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is owned by insiders.

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.