Graypoint LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

Graypoint LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,370 shares of the CRM provider’s stock after purchasing an additional 336 shares during the quarter. Graypoint LLC’s holdings in Salesforce were worth $2,798,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LPL Financial LLC increased its position in Salesforce by 4.8% in the 2nd quarter. LPL Financial LLC now owns 909,821 shares of the CRM provider’s stock valued at $233,915,000 after acquiring an additional 41,630 shares during the period. Fortune Financial Advisors LLC increased its holdings in shares of Salesforce by 7.0% in the 2nd quarter. Fortune Financial Advisors LLC now owns 1,349 shares of the CRM provider’s stock valued at $347,000 after purchasing an additional 88 shares in the last quarter. Campbell Wealth Management grew its position in Salesforce by 29.8% during the second quarter. Campbell Wealth Management now owns 871 shares of the CRM provider’s stock worth $224,000 after buying an additional 200 shares during the period. Forsta AP Fonden increased its holdings in Salesforce by 3.9% in the second quarter. Forsta AP Fonden now owns 250,647 shares of the CRM provider’s stock valued at $64,441,000 after buying an additional 9,500 shares in the last quarter. Finally, Achmea Investment Management B.V. boosted its position in Salesforce by 2.2% during the second quarter. Achmea Investment Management B.V. now owns 87,120 shares of the CRM provider’s stock worth $22,399,000 after purchasing an additional 1,863 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 2.8 %

Shares of NYSE CRM traded down $9.07 during mid-day trading on Friday, hitting $317.83. 6,305,971 shares of the company traded hands, compared to its average volume of 4,902,714. The business has a 50 day moving average of $335.36 and a two-hundred day moving average of $288.53. The stock has a market capitalization of $304.16 billion, a price-to-earnings ratio of 52.27, a PEG ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year 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.

Salesforce (NYSE:CRM) last announced its earnings results 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 firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the firm earned $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Canaccord Genuity Group raised their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a report on Monday. JMP Securities restated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Piper Sandler restated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One 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. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,181,817 shares of company stock valued at $404,760,429 in the last quarter. Company insiders own 3.20% of the company’s stock.

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.