Private Wealth Partners LLC Buys 196 Shares of Salesforce, Inc. (NYSE:CRM)

Private Wealth Partners LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,558 shares of the CRM provider’s stock after buying an additional 196 shares during the quarter. Private Wealth Partners LLC’s holdings in Salesforce were worth $4,094,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CRM. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce in the fourth quarter worth $31,000. Pacifica Partners Inc. lifted its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Salesforce in the fourth quarter worth $34,000. Finally, AlphaMark Advisors LLC lifted its position in shares of Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CRM. BMO Capital Markets boosted their price objective on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler restated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, April 15th. Wedbush boosted their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Stifel Nicolaus restated a “buy” rating and set a $350.00 target price on shares of Salesforce in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Nine 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Activity

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,104,977.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,104,977.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the sale, the chief financial officer now directly owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The disclosure for this sale can be found here. Insiders sold 620,793 shares of company stock valued at $182,177,918 over the last quarter. 3.70% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of CRM stock traded up $1.15 on Friday, reaching $274.29. The company had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The stock has a market capitalization of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.11 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 one year low of $190.76 and a one year high of $318.71. The business’s 50-day moving average is $295.97 and its 200 day moving average is $264.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 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 analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend 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.