Donoghue Forlines LLC Has $2.01 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Donoghue Forlines LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 35.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,021 shares of the CRM provider’s stock after buying an additional 1,567 shares during the quarter. Donoghue Forlines LLC’s holdings in Salesforce were worth $2,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Madrona Financial Services LLC boosted its position in shares of Salesforce by 7.7% during the fourth quarter. Madrona Financial Services LLC now owns 995 shares of the CRM provider’s stock valued at $333,000 after buying an additional 71 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in Salesforce during the 4th quarter valued at $453,000. Bill Few Associates Inc. purchased a new position in Salesforce during the 4th quarter worth $209,000. MinichMacGregor Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth $240,000. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Salesforce by 27.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 2,367 shares of the CRM provider’s stock valued at $791,000 after purchasing an additional 509 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Salesforce stock opened at $331.50 on Thursday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm’s fifty day moving average price is $336.50 and its 200-day moving average price is $293.20. The stock has a market cap of $317.24 billion, a P/E ratio of 54.56, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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 return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the firm earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank lifted their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. BMO Capital Markets boosted their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Loop Capital lifted their target price on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Truist Financial restated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at $35,586,572.08. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,171,198 shares of company stock valued at $401,945,558. 3.20% of the stock is currently owned by corporate insiders.

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.