Element Wealth LLC Has $305,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Element Wealth LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,159 shares of the CRM provider’s stock after selling 57 shares during the quarter. Element Wealth LLC’s holdings in Salesforce were worth $305,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Naples Global Advisors LLC lifted its stake in Salesforce by 16.5% in the third quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock valued at $519,000 after acquiring an additional 363 shares during the last quarter. Traynor Capital Management Inc. lifted its stake in shares of Salesforce by 8.8% in the third quarter. Traynor Capital Management Inc. now owns 1,299 shares of the CRM provider’s stock worth $263,000 after buying an additional 105 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Salesforce by 15.1% in the third quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock worth $1,335,000 after buying an additional 864 shares during the last quarter. Montecito Bank & Trust acquired a new stake in shares of Salesforce in the third quarter worth $248,000. Finally, Impact Partnership Wealth LLC lifted its stake in shares of Salesforce by 226.5% in the third quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock worth $65,000 after buying an additional 222 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Brian Millham sold 24,453 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $278.62, for a total value of $4,179,300.00. Following the completion of the transaction, the chief executive officer now owns 13,701,166 shares in the company, valued at approximately $3,817,418,870.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 596,379 shares of company stock valued at $175,587,970. 3.70% of the stock is owned by insiders.

Salesforce Stock Up 1.0 %

NYSE CRM traded up $2.87 during trading hours on Tuesday, reaching $276.68. 6,192,530 shares of the company’s stock were exchanged, compared to its average volume of 5,718,850. The company’s 50-day moving average is $297.00 and its two-hundred day moving average is $262.79. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $268.38 billion, a price-to-earnings ratio of 65.07, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $1.01 EPS. On average, analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Oppenheimer boosted their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Evercore ISI boosted their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Jefferies Financial Group boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Truist Financial reaffirmed a “buy” rating and set a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $310.61.

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.