Salesforce, Inc. (NYSE:CRM) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,716 shares of the CRM provider’s stock after buying an additional 1,488 shares during the quarter. Salesforce accounts for 1.0% of Linden Thomas Advisory Services LLC’s portfolio, making the stock its 2nd largest position. Linden Thomas Advisory Services LLC’s holdings in Salesforce were worth $5,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Masso Torrence Wealth Management Inc. grew its holdings in Salesforce by 21.3% during the fourth quarter. Masso Torrence Wealth Management Inc. now owns 3,152 shares of the CRM provider’s stock valued at $829,000 after purchasing an additional 553 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Salesforce by 2.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,950 shares of the CRM provider’s stock valued at $776,000 after buying an additional 64 shares in the last quarter. Marks Group Wealth Management Inc increased its stake in shares of Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after buying an additional 257 shares in the last quarter. National Wealth Management Group LLC increased its position in Salesforce by 6.7% in the fourth quarter. National Wealth Management Group LLC now owns 2,406 shares of the CRM provider’s stock worth $633,000 after purchasing an additional 152 shares during the period. Finally, Illinois Municipal Retirement Fund increased its position in Salesforce by 4.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 45,086 shares of the CRM provider’s stock worth $11,864,000 after purchasing an additional 1,880 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.7 %

Shares of Salesforce stock traded up $1.84 during midday trading on Tuesday, hitting $275.65. The company’s stock had a trading volume of 5,085,922 shares, compared to its average volume of 5,704,005. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The stock has a 50-day simple moving average of $297.00 and a 200-day simple moving average of $262.79. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $267.38 billion, a P/E ratio of 65.07, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Argus increased their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Wolfe Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research note on Tuesday, April 16th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. Finally, Piper Sandler restated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the transaction, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the sale, the chief executive officer now owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 393 shares of Salesforce stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $280.00, for a total transaction of $110,040.00. The disclosure for this sale can be found here. Insiders have sold 596,379 shares of company stock valued at $175,587,970 in the last three months. 3.70% of the stock is owned by corporate insiders.

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.