Wilmington Savings Fund Society FSB Acquires 3,230 Shares of Salesforce, Inc. (NYSE:CRM)

Wilmington Savings Fund Society FSB increased its holdings in Salesforce, Inc. (NYSE:CRM) by 7.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 47,042 shares of the CRM provider’s stock after buying an additional 3,230 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Salesforce were worth $15,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRM. Foundations Investment Advisors LLC raised its holdings in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in Salesforce during the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC boosted its stake in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its stake in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd grew its holdings in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,705,195. The trade was a 11.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,111,420 shares of company stock worth $384,366,700. 3.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several research reports. Loop Capital raised their target price on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Citigroup increased their price target on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Down 1.5 %

Shares of NYSE CRM opened at $325.81 on Friday. The stock has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a P/E/G ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50-day moving average price is $339.05 and its 200-day moving average price is $299.87.

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

Salesforce Dividend Announcement

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

Salesforce 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.