Legacy Capital Wealth Partners LLC Makes New $239,000 Investment in Salesforce, Inc. (NYSE:CRM)

Legacy Capital Wealth Partners LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 909 shares of the CRM provider’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently modified their holdings of the stock. Graypoint LLC increased its holdings in shares of Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares during the period. Opes Wealth Management LLC boosted its stake in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares during the period. Prentice Wealth Management LLC increased its position in Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares during the period. MV Capital Management Inc. raised its stake in shares of Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after buying an additional 39 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. boosted its stake in shares of Salesforce by 0.4% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 8,901 shares of the CRM provider’s stock valued at $2,342,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CRM. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. KeyCorp began coverage on shares of Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Bank of America boosted their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group raised their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.07, for a total value of $4,126,050.00. Following the completion of the transaction, the chief executive officer now owns 12,752,327 shares of the company’s stock, valued at $3,507,782,587.89. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.07, for a total transaction of $4,126,050.00. Following the completion of the sale, the chief executive officer now directly owns 12,752,327 shares of the company’s stock, valued at $3,507,782,587.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 610,793 shares of company stock valued at $179,197,018. Insiders own 3.70% of the company’s stock.

Salesforce Stock Up 0.6 %

NYSE CRM opened at $275.86 on Tuesday. The stock has a market cap of $267.58 billion, a PE ratio of 65.68, a P/E/G ratio of 2.11 and a beta of 1.28. The business has a 50 day moving average price of $295.69 and a two-hundred day moving average price of $265.20. 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 fifty-two week low of $190.76 and a fifty-two week high of $318.71.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a 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.