Capital Investment Advisory Services LLC Purchases 156 Shares of Salesforce, Inc. (NYSE:CRM)

Capital Investment Advisory Services LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,430 shares of the CRM provider’s stock after acquiring an additional 156 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Salesforce were worth $639,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CRM. Walkner Condon Financial Advisors LLC increased its stake in Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares during the last quarter. Roman Butler Fullerton & Co. increased its position in shares of Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after acquiring an additional 105 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $214,000. Riversedge Advisors LLC raised its holdings in Salesforce by 21.7% during the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after acquiring an additional 420 shares in the last quarter. Finally, Lone Pine Capital LLC boosted its position in Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after purchasing an additional 804,634 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 24,453 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the sale, the chief executive officer now directly owns 13,671,166 shares of the company’s stock, valued at approximately $3,838,726,701.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. Insiders have sold 596,379 shares of company stock valued at $175,587,970 over the last ninety days. 3.70% of the stock is owned by corporate insiders.

Salesforce Trading Up 1.3 %

CRM opened at $273.83 on Tuesday. 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 twelve month low of $190.57 and a twelve month high of $318.71. The stock has a market capitalization of $265.62 billion, a price-to-earnings ratio of 65.20, a P/E/G ratio of 2.08 and a beta of 1.28. The company has a 50-day simple moving average of $297.00 and a 200 day simple moving average of $262.79.

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

Salesforce Announces Dividend

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

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Citigroup upped their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research note on Monday, April 15th. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Finally, Truist Financial reiterated 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 equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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.