Inman Jager Wealth Management LLC Purchases Shares of 1,240 Salesforce, Inc. (NYSE:CRM)

Inman Jager Wealth Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,240 shares of the CRM provider’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp raised its position in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares during the last quarter. Geode Capital Management LLC increased its position in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC increased its position in Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Salesforce by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after purchasing an additional 96,381 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,111,420 shares of company stock worth $384,366,700. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CRM shares. Bank of America boosted their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays boosted their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. Piper Sandler reiterated an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Oppenheimer reiterated an “outperform” rating and set a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

CRM opened at $347.41 on Thursday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $332.47 billion, a P/E ratio of 57.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The firm’s 50-day moving average price is $338.69 and its 200-day moving average price is $299.31.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.46%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Salesforce 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.