RWA Wealth Partners LLC Buys 15,369 Shares of Salesforce, Inc. (NYSE:CRM)

RWA Wealth Partners LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 674.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,649 shares of the CRM provider’s stock after purchasing an additional 15,369 shares during the quarter. RWA Wealth Partners LLC’s holdings in Salesforce were worth $4,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Naples Global Advisors LLC boosted its position in Salesforce by 16.5% during the 3rd quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock worth $519,000 after buying an additional 363 shares during the period. Traynor Capital Management Inc. boosted its position in Salesforce by 8.8% during the 3rd 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 period. Capital Investment Advisors LLC boosted its position in Salesforce by 15.1% during the 3rd 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 period. Montecito Bank & Trust acquired a new stake in Salesforce during the 3rd quarter worth approximately $248,000. Finally, Impact Partnership Wealth LLC boosted its position in Salesforce by 226.5% during the 3rd 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 period. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Up 0.2 %

Salesforce stock opened at $274.30 on Tuesday. The company has a market capitalization of $266.07 billion, a price-to-earnings ratio of 65.20, a PEG ratio of 2.08 and a beta of 1.28. The company’s fifty day moving average price is $297.00 and its two-hundred day moving average price 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 current ratio of 1.09 and a quick ratio of 1.09.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $278.62, for a total transaction of $4,179,300.00. Following the transaction, the chief executive officer now owns 13,701,166 shares in the company, valued at approximately $3,817,418,870.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 2,890 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $893,934.80. Following the completion of the sale, the insider now directly owns 60,416 shares in the company, valued at $18,687,877.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $278.62, for a total transaction of $4,179,300.00. Following the transaction, the chief executive officer now owns 13,701,166 shares of the company’s stock, valued at $3,817,418,870.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 596,379 shares of company stock worth $175,587,970. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Evercore ISI lifted 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. Citigroup boosted their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Bank of America boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Wolfe Research restated an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Company 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.