HBW Advisory Services LLC Has $4.94 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

HBW Advisory Services LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,770 shares of the CRM provider’s stock after selling 1,402 shares during the quarter. Salesforce makes up 0.7% of HBW Advisory Services LLC’s holdings, making the stock its 29th biggest position. HBW Advisory Services LLC’s holdings in Salesforce were worth $4,938,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. LVM Capital Management Ltd. MI lifted its holdings in shares of Salesforce by 3.4% during the fourth quarter. LVM Capital Management Ltd. MI now owns 46,266 shares of the CRM provider’s stock worth $15,468,000 after buying an additional 1,508 shares in the last quarter. Franklin Street Advisors Inc. NC lifted its holdings in shares of Salesforce by 3.5% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 75,523 shares of the CRM provider’s stock worth $25,250,000 after buying an additional 2,530 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of Salesforce by 0.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 22,676 shares of the CRM provider’s stock worth $7,581,000 after buying an additional 57 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Salesforce by 5.4% during the fourth quarter. ORG Partners LLC now owns 3,692 shares of the CRM provider’s stock worth $1,235,000 after buying an additional 189 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC lifted its holdings in shares of Salesforce by 5.2% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 4,201 shares of the CRM provider’s stock worth $1,405,000 after buying an additional 208 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,181,817 shares of company stock valued at $404,760,429 over the last ninety days. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CRM. Truist Financial restated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday. Canaccord Genuity Group raised their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Loop Capital raised their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Trading Down 2.0 %

CRM traded down $6.63 during trading on Friday, hitting $320.27. The company’s stock had a trading volume of 4,319,997 shares, compared to its average volume of 4,564,206. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $335.36 and its 200-day moving average price is $288.53. The firm has a market capitalization of $306.50 billion, a P/E ratio of 52.68, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the firm posted $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

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.