Stewardship Advisors LLC Invests $222,000 in Salesforce, Inc. (NYSE:CRM)

Stewardship Advisors LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 664 shares of the CRM provider’s stock, valued at approximately $222,000.

Several other institutional investors also recently bought and sold shares of CRM. Veritas Asset Management LLP purchased a new stake in shares of Salesforce in the third quarter valued at about $733,805,000. KBC Group NV boosted its holdings in Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares in the last quarter. International Assets Investment Management LLC increased its position in Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares during the period. State Street Corp raised its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Salesforce by 95.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,624,520 shares of the CRM provider’s stock valued at $462,063,000 after buying an additional 794,506 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were 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 directly owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. This trade represents a 3.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,173,891 shares of company stock valued at $402,840,388. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CRM shares. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. Loop Capital lifted their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a report on Monday, January 6th. One 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 company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Price Performance

CRM stock opened at $333.47 on Friday. The company has a market cap of $319.13 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. 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 stock has a 50-day moving average price of $336.73 and a two-hundred day moving average price of $294.01. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $1.62 EPS. As a group, research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. 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.