Kelleher Financial Advisors Buys Shares of 677 Salesforce, Inc. (NYSE:CRM)

Kelleher Financial Advisors bought a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 677 shares of the CRM provider’s stock, valued at approximately $226,000.

Other institutional investors have also made changes to their positions in the company. Marino Stram & Associates LLC lifted its stake in Salesforce by 5.6% in the fourth quarter. Marino Stram & Associates LLC now owns 2,257 shares of the CRM provider’s stock valued at $755,000 after acquiring an additional 120 shares during the last quarter. Magnus Financial Group LLC increased its position in Salesforce by 2.3% during the fourth quarter. Magnus Financial Group LLC now owns 2,285 shares of the CRM provider’s stock worth $764,000 after acquiring an additional 51 shares during the period. Advisory Alpha LLC increased its holdings in Salesforce by 9.1% in the 4th quarter. Advisory Alpha LLC now owns 2,457 shares of the CRM provider’s stock valued at $822,000 after buying an additional 205 shares during the period. West Branch Capital LLC increased its holdings in Salesforce by 59.5% in the 4th quarter. West Branch Capital LLC now owns 4,223 shares of the CRM provider’s stock valued at $1,412,000 after buying an additional 1,576 shares during the period. Finally, Missouri Trust & Investment Co boosted its stake in shares of Salesforce by 1.0% in the 4th quarter. Missouri Trust & Investment Co now owns 9,372 shares of the CRM provider’s stock valued at $3,133,000 after purchasing an additional 96 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 1.8 %

NYSE CRM opened at $332.67 on Thursday. The firm has a market capitalization of $318.37 billion, a P/E ratio of 54.72, a PEG ratio of 2.93 and a beta of 1.30. The business has a fifty day simple moving average of $336.68 and a 200 day simple moving average of $292.92. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. 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 released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. On average, analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Needham & Company LLC increased their price objective on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Scotiabank boosted their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,171,198 shares of company stock worth $401,945,558 in the last quarter. 3.20% of the stock is currently owned by company insiders.

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.