199,489 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 199,489 shares of the CRM provider’s stock, valued at approximately $66,695,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Veritas Asset Management LLP purchased a new stake in shares of Salesforce during the third quarter valued at $733,805,000. Jennison Associates LLC boosted its holdings in shares of Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the last quarter. Swedbank AB grew its stake in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares during the period. KBC Group NV raised its holdings in shares of Salesforce by 171.2% during the third 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 during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after purchasing an additional 998,628 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This trade represents a 7.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,111,420 shares of company stock worth $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $330.52 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business has a 50 day simple moving average of $339.04 and a two-hundred day simple moving average of $299.65. The stock has a market capitalization of $316.31 billion, a PE ratio of 54.36, a P/E/G ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted 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). The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.62 earnings per share. On average, research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. Loop Capital lifted their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Barclays lifted their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Stifel Nicolaus raised their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday. Finally, Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.