1,406 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Zhang Financial LLC

Zhang Financial LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,406 shares of the CRM provider’s stock, valued at approximately $370,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the 4th quarter worth $26,000. Pacifica Partners Inc. lifted its position in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth $34,000. GHP Investment Advisors Inc. increased its holdings in Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners acquired a new position in Salesforce in the 4th quarter worth about $36,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Down 0.5 %

CRM stock opened at $270.45 on Friday. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $297.28 and its 200-day moving average is $261.43. The firm has a market capitalization of $262.34 billion, a PE ratio of 64.39, a P/E/G ratio of 2.09 and a beta of 1.28.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. 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 dividend payout ratio is presently 9.52%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CRM shares. JPMorgan Chase & Co. upped their target price on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Oppenheimer upped their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $307.87.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the sale, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the sale, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 24,453 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total value of $7,386,762.24. The disclosure for this sale can be found here. Insiders have sold 628,184 shares of company stock worth $184,794,698 over the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

About Salesforce

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.