Invera Wealth Advisors LLC Has $1.89 Million Stake in Salesforce, Inc. (NYSE:CRM)

Invera Wealth Advisors LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,634 shares of the CRM provider’s stock after selling 541 shares during the quarter. Salesforce comprises about 1.9% of Invera Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Invera Wealth Advisors LLC’s holdings in Salesforce were worth $1,885,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. DA Davidson lifted their price objective on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Macquarie reaffirmed a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.84.

Salesforce Price Performance

Shares of NYSE CRM opened at $324.19 on Thursday. The firm has a market capitalization of $310.25 billion, a P/E ratio of 53.32, a P/E/G ratio of 2.62 and a beta of 1.31. 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’s 50-day simple moving average is $335.02 and its two-hundred day simple moving average is $304.66. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued 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 dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,117,641 shares of company stock worth $386,408,308 in the last ninety days. 3.20% 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.