Signet Financial Management LLC Acquires New Stake in Salesforce, Inc. (NYSE:CRM)

Signet Financial Management LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,661 shares of the CRM provider’s stock, valued at approximately $1,490,000.

Other hedge funds also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in Salesforce during the fourth quarter valued at about $26,000. Pacifica Partners Inc. grew its holdings in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC bought a new stake in Salesforce during the fourth quarter valued at about $34,000. GHP Investment Advisors Inc. grew its holdings in Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock valued at $36,000 after purchasing an additional 63 shares during the period. Finally, Live Oak Investment Partners bought a new stake in Salesforce during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,928,721 shares of the company’s stock, valued at approximately $3,823,539,948.54. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $295.74, for a total transaction of $4,436,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,928,721 shares of the company’s stock, valued at $3,823,539,948.54. The disclosure for this sale can be found here. Insiders have sold 897,375 shares of company stock valued at $260,206,096 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRM shares. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Oppenheimer upped their price objective on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Piper Sandler reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday. Argus upped their price objective on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Evercore ISI upped their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

Salesforce Trading Up 1.7 %

Shares of CRM stock opened at $277.41 on Wednesday. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year 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 stock’s 50 day simple moving average is $298.35 and its two-hundred day simple moving average is $260.79. The company has a market cap of $269.09 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. Research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

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.