Salesforce, Inc. (NYSE:CRM) Stake Increased by Quent Capital LLC

Quent Capital LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,088 shares of the CRM provider’s stock after acquiring an additional 68 shares during the quarter. Quent Capital LLC’s holdings in Salesforce were worth $1,032,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter worth about $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce during the 4th quarter worth approximately $30,000. Collier Financial acquired a new position in shares of Salesforce in the 4th quarter worth approximately $32,000. Finally, Godsey & Gibb Inc. increased its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. DA Davidson raised their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Down 0.8 %

Shares of NYSE:CRM opened at $324.50 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $310.55 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a 50 day moving average price of $338.89 and a 200 day moving average price of $301.53.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 yield of 0.49%. Salesforce’s payout ratio is presently 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.