Keeler Thomas Management LLC Has $4.80 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Keeler Thomas Management LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,344 shares of the CRM provider’s stock after selling 256 shares during the quarter. Salesforce makes up approximately 1.7% of Keeler Thomas Management LLC’s holdings, making the stock its 29th biggest holding. Keeler Thomas Management LLC’s holdings in Salesforce were worth $4,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. EdgeRock Capital LLC grew its stake in shares of Salesforce by 16.5% during the fourth quarter. EdgeRock Capital LLC now owns 1,102 shares of the CRM provider’s stock valued at $368,000 after purchasing an additional 156 shares during the last quarter. Transcendent Capital Group LLC lifted its holdings in Salesforce by 525.9% during the 4th quarter. Transcendent Capital Group LLC now owns 1,496 shares of the CRM provider’s stock worth $500,000 after buying an additional 1,257 shares in the last quarter. Trifecta Capital Advisors LLC lifted its holdings in Salesforce by 3.3% during the 4th quarter. Trifecta Capital Advisors LLC now owns 24,071 shares of the CRM provider’s stock worth $8,048,000 after buying an additional 771 shares in the last quarter. Millington Financial Advisors LLC boosted its position in Salesforce by 16.3% in the 4th quarter. Millington Financial Advisors LLC now owns 5,618 shares of the CRM provider’s stock valued at $1,906,000 after buying an additional 789 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its stake in shares of Salesforce by 0.5% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock valued at $2,369,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,102,572 shares of company stock worth $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of several research reports. Piper Sandler set a $405.00 price target on Salesforce in a research note on Tuesday, January 21st. The Goldman Sachs Group upped their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock 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-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Price Performance

Shares of CRM opened at $308.27 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market capitalization of $295.01 billion, a P/E ratio of 50.70, a P/E/G ratio of 2.58 and a beta of 1.31. The company has a 50 day moving average of $332.36 and a 200-day moving average of $306.60.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $9.35 billion. During the same period last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

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.