Salesforce, Inc. (NYSE:CRM) is Clarity Capital Partners LLC’s 10th Largest Position

Clarity Capital Partners LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,136 shares of the CRM provider’s stock after purchasing an additional 68 shares during the period. Salesforce comprises about 2.6% of Clarity Capital Partners LLC’s holdings, making the stock its 10th biggest holding. Clarity Capital Partners LLC’s holdings in Salesforce were worth $5,060,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Naples Global Advisors LLC lifted its stake in Salesforce by 8.8% in the 4th quarter. Naples Global Advisors LLC now owns 11,513 shares of the CRM provider’s stock worth $3,853,000 after acquiring an additional 927 shares in the last quarter. Avion Wealth lifted its stake in Salesforce by 106.3% in the 4th quarter. Avion Wealth now owns 196 shares of the CRM provider’s stock worth $65,000 after acquiring an additional 101 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Salesforce by 147.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,232,922 shares of the CRM provider’s stock worth $407,828,000 after acquiring an additional 734,272 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in Salesforce by 0.3% in the 4th quarter. Marks Group Wealth Management Inc now owns 38,200 shares of the CRM provider’s stock worth $12,771,000 after acquiring an additional 100 shares in the last quarter. Finally, Davidson Capital Management Inc. lifted its stake in Salesforce by 1.2% in the 4th quarter. Davidson Capital Management Inc. now owns 13,189 shares of the CRM provider’s stock worth $4,409,000 after acquiring an additional 152 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Stifel Nicolaus upped their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling

In other news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock worth $384,366,700 in the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of CRM stock opened at $326.26 on Thursday. The stock has a 50 day moving average of $338.74 and a two-hundred day moving average of $301.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $312.23 billion, a P/E ratio of 53.66, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the business posted $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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

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.