Western Wealth Management LLC Purchases 1,400 Shares of Salesforce, Inc. (NYSE:CRM)

Western Wealth Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,999 shares of the CRM provider’s stock after purchasing an additional 1,400 shares during the quarter. Western Wealth Management LLC’s holdings in Salesforce were worth $2,105,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Bear Mountain Capital Inc. bought a new stake in Salesforce during the fourth quarter worth $26,000. BKM Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth approximately $34,000. 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. AlphaMark Advisors LLC raised its stake in shares of Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after buying an additional 125 shares during the period. Finally, Glass Jacobson Investment Advisors llc purchased a new position in shares of Salesforce during the 4th quarter valued at $37,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $276.83, for a total value of $4,152,450.00. Following the completion of the transaction, the chief executive officer now owns 12,857,327 shares of the company’s stock, valued at approximately $3,559,293,833.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $276.83, for a total value of $4,152,450.00. Following the sale, the chief executive officer now directly owns 12,857,327 shares of the company’s stock, valued at approximately $3,559,293,833.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 5,864 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,611,251.28. Following the completion of the sale, the chief financial officer now owns 45,231 shares in the company, valued at $12,428,121.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 628,184 shares of company stock worth $184,794,698. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

CRM traded down $0.42 during midday trading on Friday, reaching $271.50. The company had a trading volume of 805,323 shares, compared to its average volume of 5,641,438. The business has a 50-day moving average of $297.70 and a two-hundred day moving average of $260.97. The company has a market cap of $263.36 billion, a P/E ratio of 64.67, a P/E/G ratio of 2.13 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results 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 the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CRM shares. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $290.00 to $350.00 in a research report on Thursday, December 21st. Citigroup boosted their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Bank of America raised their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Oppenheimer upped their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

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.