Element Wealth LLC Sells 57 Shares of Salesforce, Inc. (NYSE:CRM)

Element Wealth LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,159 shares of the CRM provider’s stock after selling 57 shares during the period. Element Wealth LLC’s holdings in Salesforce were worth $305,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new position in Salesforce in the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce in the 4th quarter worth approximately $31,000. Pacifica Partners Inc. boosted its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC bought a new position in Salesforce in the 4th quarter worth approximately $34,000. Finally, AlphaMark Advisors LLC boosted its stake in Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction that occurred 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 document filed with the SEC, which can be accessed through this link. In other news, COO Brian Millham sold 24,453 shares of the company’s 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 document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the sale, the chief executive officer now owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The disclosure for this sale can be found here. Insiders sold 596,379 shares of company stock worth $175,587,970 over the last three months. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Citigroup upped their price target on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Mizuho reiterated a “buy” rating and set a $345.00 target price (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Wells Fargo & Company increased their target price on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Finally, Truist Financial reiterated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Up 1.0 %

CRM stock traded up $2.87 during trading on Tuesday, reaching $276.68. 6,192,530 shares of the company traded hands, compared to its average volume of 5,718,850. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The business has a 50 day simple moving average of $297.00 and a 200 day simple moving average of $262.79. The company has a market capitalization of $268.38 billion, a price-to-earnings ratio of 65.07, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.01 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

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.