LWM Advisory Services LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

LWM Advisory Services LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 798 shares of the CRM provider’s stock, valued at approximately $265,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FPC Investment Advisory Inc. grew its position in Salesforce by 1,246.7% during the 4th quarter. FPC Investment Advisory Inc. now owns 202 shares of the CRM provider’s stock worth $69,000 after acquiring an additional 187 shares during the last quarter. Fisher Funds Management LTD bought a new position in Salesforce during the 4th quarter worth approximately $58,719,000. First Horizon Advisors Inc. grew its position in Salesforce by 3.3% during the 4th quarter. First Horizon Advisors Inc. now owns 19,451 shares of the CRM provider’s stock worth $6,503,000 after acquiring an additional 621 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in Salesforce by 0.5% during the 4th quarter. Pinnacle Financial Partners Inc now owns 156,110 shares of the CRM provider’s stock worth $48,142,000 after acquiring an additional 702 shares during the last quarter. Finally, Sigma Planning Corp grew its position in Salesforce by 2.5% during the 4th quarter. Sigma Planning Corp now owns 25,620 shares of the CRM provider’s stock worth $8,565,000 after acquiring an additional 617 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,102,833 shares of company stock valued at $381,389,136 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 6th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Citigroup increased their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Piper Sandler set a $405.00 price objective on Salesforce in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Salesforce Stock Performance

Shares of CRM opened at $309.54 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 one year low of $212.00 and a one year high of $369.00. The firm has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31. The business has a fifty day moving average of $333.34 and a 200 day moving average of $305.72.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the firm earned $1.62 EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s 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.