Balanced Wealth Group LLC Acquires New Holdings in Salesforce, Inc. (NYSE:CRM)

Balanced Wealth Group LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 856 shares of the CRM provider’s stock, valued at approximately $225,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Concord Wealth Partners boosted its stake in Salesforce by 145.4% in the 3rd quarter. Concord Wealth Partners now owns 3,060 shares of the CRM provider’s stock worth $621,000 after purchasing an additional 1,813 shares during the period. JB Capital LLC grew its holdings in shares of Salesforce by 51.6% during the third quarter. JB Capital LLC now owns 1,643 shares of the CRM provider’s stock worth $333,000 after buying an additional 559 shares in the last quarter. Verdence Capital Advisors LLC raised its position in Salesforce by 21.7% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,839 shares of the CRM provider’s stock valued at $373,000 after buying an additional 328 shares during the last quarter. Ocean Capital Management LLC boosted its position in Salesforce by 12.5% during the 3rd quarter. Ocean Capital Management LLC now owns 11,895 shares of the CRM provider’s stock worth $2,412,000 after acquiring an additional 1,321 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of Salesforce by 1.6% during the 3rd quarter. Calamos Wealth Management LLC now owns 3,412 shares of the CRM provider’s stock worth $692,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.6 %

Shares of CRM stock traded up $1.79 during trading hours on Wednesday, hitting $278.97. 3,030,162 shares of the company’s stock traded hands, compared to its average volume of 5,499,334. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a market cap of $270.04 billion, a PE ratio of 66.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The stock’s 50 day simple moving average is $293.29 and its 200 day simple moving average is $267.99.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent research reports. Jefferies Financial Group increased their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, April 15th. Bank of America lifted their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Finally, Mizuho reiterated a “buy” rating and issued a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Salesforce news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. Insiders sold a total of 619,993 shares of company stock worth $181,048,574 over the last three months. 3.70% of the stock is owned by company 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.