Salesforce, Inc. (NYSE:CRM) Shares Bought by Annis Gardner Whiting Capital Advisors LLC

Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 10.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 942 shares of the CRM provider’s stock after purchasing an additional 92 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Salesforce were worth $248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fisher Asset Management LLC increased its position in Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after purchasing an additional 752,566 shares during the period. Northern Trust Corp boosted its stake in shares of Salesforce by 1.1% during the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after acquiring an additional 121,436 shares in the last quarter. Norges Bank purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $2,762,331,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Salesforce by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,397,516 shares of the CRM provider’s stock worth $1,420,302,000 after acquiring an additional 145,625 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Salesforce by 7.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock worth $948,676,000 after acquiring an additional 309,881 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM traded down $2.50 during midday trading on Thursday, hitting $281.32. 2,501,816 shares of the stock were exchanged, compared to its average volume of 5,282,827. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company has a market capitalization of $272.32 billion, a price-to-earnings ratio of 66.93, a P/E/G ratio of 2.51 and a beta of 1.30. The business has a 50-day moving average price of $287.88 and a two-hundred day moving average price of $273.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its 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. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.57%. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $285.20, for a total value of $1,197,840.00. Following the transaction, the insider now owns 115,762 shares of the company’s stock, valued at $33,015,322.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $285.20, for a total transaction of $1,197,840.00. Following the sale, the insider now directly owns 115,762 shares in the company, valued at $33,015,322.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 630,182 shares of company stock valued at $183,257,351. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRM. Piper Sandler reissued a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, April 15th. Argus upped their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. BMO Capital Markets upped their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $310.94.

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.