Emfo LLC Has $31,000 Position in Salesforce, Inc. (NYSE:CRM)

Emfo LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 28.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 117 shares of the CRM provider’s stock after selling 46 shares during the period. Emfo LLC’s holdings in Salesforce were worth $31,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Graypoint LLC grew its stake in Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 36 shares during the last quarter. Prentice Wealth Management LLC grew its stake in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares during the last quarter. MV Capital Management Inc. grew its stake in Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after buying an additional 39 shares during the last quarter. Legal Advantage Investments Inc. grew its stake in Salesforce by 0.7% in the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock valued at $1,466,000 after buying an additional 40 shares during the last quarter. Finally, Mayflower Financial Advisors LLC grew its position in shares of Salesforce by 1.2% during the 4th quarter. Mayflower Financial Advisors LLC now owns 3,411 shares of the CRM provider’s stock worth $898,000 after purchasing an additional 41 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on CRM shares. Wedbush increased their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Wolfe Research upgraded shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 target price on the stock in a research report on Monday, December 18th. Evercore ISI increased their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $290.00 to $350.00 in a report on Thursday, December 21st. Finally, Truist Financial reaffirmed a “buy” rating and set a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $306.26.

Salesforce Trading Down 7.3 %

Shares of CRM traded down $21.57 during trading hours on Monday, hitting $272.75. 18,360,212 shares of the stock were exchanged, compared to its average volume of 5,700,935. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day moving average of $298.82 and a 200-day moving average of $259.77. The firm has a market capitalization of $264.57 billion, a P/E ratio of 65.38, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.01 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 922,375 shares of company stock worth $266,955,446. 3.70% 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.