Salesforce, Inc. (NYSE:CRM) Shares Sold by LifePlan Financial LLC

LifePlan Financial LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,285 shares of the CRM provider’s stock after selling 178 shares during the quarter. Salesforce makes up about 2.4% of LifePlan Financial LLC’s investment portfolio, making the stock its 7th largest position. LifePlan Financial LLC’s holdings in Salesforce were worth $2,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter worth about $33,000. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC lifted its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Salesforce during the 3rd quarter worth approximately $53,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRM shares. Needham & Company LLC increased their price objective on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Piper Sandler restated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. BMO Capital Markets upped their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Trading Up 1.5 %

NYSE CRM opened at $324.77 on Tuesday. The stock has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.93 and a beta of 1.30. The business’s fifty day moving average is $336.97 and its 200-day moving average is $292.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,173,477 shares of company stock worth $402,596,964. Corporate insiders own 3.20% of the company’s stock.

About Salesforce

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.