Ingalls & Snyder LLC Has $2.46 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Ingalls & Snyder LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,355 shares of the CRM provider’s stock after selling 179 shares during the period. Ingalls & Snyder LLC’s holdings in Salesforce were worth $2,459,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CRM. RBA Wealth Management LLC raised its holdings in Salesforce by 3.7% during the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after buying an additional 574 shares during the period. CX Institutional raised its holdings in Salesforce by 2.0% during the 3rd quarter. CX Institutional now owns 5,637 shares of the CRM provider’s stock worth $1,543,000 after buying an additional 110 shares during the period. Creative Planning raised its holdings in Salesforce by 8.0% during the 3rd quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after buying an additional 17,350 shares during the period. Regatta Capital Group LLC grew its stake in shares of Salesforce by 3.3% during the 3rd quarter. Regatta Capital Group LLC now owns 6,453 shares of the CRM provider’s stock worth $1,766,000 after acquiring an additional 204 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of Salesforce by 3.7% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 51,281 shares of the CRM provider’s stock worth $14,765,000 after acquiring an additional 1,846 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Robert W. Baird raised their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 over the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 0.6 %

CRM opened at $326.26 on Thursday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a 50-day simple moving average of $338.74 and a 200 day simple moving average of $301.96. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $312.23 billion, a price-to-earnings ratio of 53.66, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its 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 the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS. Analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

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.