Parisi Gray Wealth Management Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Parisi Gray Wealth Management lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,415 shares of the CRM provider’s stock after acquiring an additional 146 shares during the quarter. Parisi Gray Wealth Management’s holdings in Salesforce were worth $473,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Aviance Capital Partners LLC lifted its stake in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares in the last quarter. EWA LLC raised its holdings in Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after acquiring an additional 33 shares during the last quarter. Umpqua Bank boosted its holdings in shares of Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares during the last quarter. Principal Street Partners LLC grew its position in shares of Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares in the last quarter. Finally, Nvwm LLC increased its holdings in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,177,617 shares of company stock valued at $403,542,975 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.5 %

Salesforce stock opened at $319.39 on Tuesday. The stock has a market cap of $305.66 billion, a PE ratio of 52.53, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average is $336.25 and its two-hundred day moving average is $290.19. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business posted $1.62 EPS. On average, sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on CRM shares. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company upped their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Loop Capital increased their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Bank of America lifted their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $376.05.

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.