Weaver Capital Management LLC Purchases 933 Shares of Salesforce, Inc. (NYSE:CRM)

Weaver Capital Management LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,476 shares of the CRM provider’s stock after purchasing an additional 933 shares during the period. Weaver Capital Management LLC’s holdings in Salesforce were worth $2,500,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Stratos Wealth Advisors LLC lifted its position in Salesforce by 1.3% during the fourth quarter. Stratos Wealth Advisors LLC now owns 35,640 shares of the CRM provider’s stock valued at $11,916,000 after purchasing an additional 452 shares during the period. Stratos Wealth Partners LTD. lifted its position in Salesforce by 2.6% during the fourth quarter. Stratos Wealth Partners LTD. now owns 37,220 shares of the CRM provider’s stock valued at $12,444,000 after purchasing an additional 957 shares during the period. 1858 Wealth Management LLC lifted its position in Salesforce by 4.5% during the fourth quarter. 1858 Wealth Management LLC now owns 958 shares of the CRM provider’s stock valued at $320,000 after purchasing an additional 41 shares during the period. Tanager Wealth Management LLP bought a new position in Salesforce during the fourth quarter valued at approximately $231,000. Finally, Bank Hapoalim BM increased its holdings in Salesforce by 5.5% during the fourth quarter. Bank Hapoalim BM now owns 24,135 shares of the CRM provider’s stock valued at $8,069,000 after buying an additional 1,259 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $344.07 on Wednesday. The firm has a 50-day moving average price of $338.67 and a 200-day moving average price of $298.64. The firm has a market capitalization of $329.28 billion, a PE ratio of 56.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 652 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $216,646.56. Following the transaction, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Stifel Nicolaus upped their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird upped their target price on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Finally, Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.