Salesforce, Inc. (NYSE:CRM) Shares Purchased by Diversify Wealth Management LLC

Diversify Wealth Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 44.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,680 shares of the CRM provider’s stock after purchasing an additional 7,335 shares during the quarter. Diversify Wealth Management LLC’s holdings in Salesforce were worth $7,527,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CRM. State Street Corp lifted its stake in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after buying an additional 314,530 shares during the period. Legal & General Group Plc grew its position in shares of Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $324.77 on Monday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock’s 50-day moving average price is $337.31 and its two-hundred day moving average price is $291.80. The company has a market cap of $310.81 billion, a PE ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. 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 (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the company posted $1.62 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared 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. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred 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 approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 6,161 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares of the company’s stock, valued at approximately $280,767.75. This represents a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CRM. Loop Capital lifted their target price on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Piper Sandler restated an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.