Salesforce, Inc. (NYSE:CRM) Shares Bought by Masso Torrence Wealth Management Inc.

Masso Torrence Wealth Management Inc. lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 21.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,152 shares of the CRM provider’s stock after buying an additional 553 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Salesforce were worth $829,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CRM. Parkside Financial Bank & Trust grew its holdings in Salesforce by 2.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,950 shares of the CRM provider’s stock valued at $776,000 after buying an additional 64 shares in the last quarter. Marks Group Wealth Management Inc raised its position in Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after purchasing an additional 257 shares in the last quarter. National Wealth Management Group LLC raised its position in Salesforce by 6.7% in the 4th quarter. National Wealth Management Group LLC now owns 2,406 shares of the CRM provider’s stock valued at $633,000 after purchasing an additional 152 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Salesforce by 4.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 45,086 shares of the CRM provider’s stock valued at $11,864,000 after purchasing an additional 1,880 shares in the last quarter. Finally, 1900 Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth about $255,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Srinivas Tallapragada sold 2,890 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $893,934.80. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $18,687,877.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 596,379 shares of company stock valued at $175,587,970 in the last quarter. Insiders own 3.70% of the company’s stock.

Salesforce Stock Up 0.7 %

NYSE CRM traded up $1.85 during mid-day trading on Tuesday, reaching $275.66. 5,043,272 shares of the company’s stock traded hands, compared to its average volume of 5,703,069. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The company has a fifty day simple moving average of $297.00 and a 200-day simple moving average of $262.79. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $267.39 billion, a price-to-earnings ratio of 65.07, a P/E/G ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm earned $1.01 EPS. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI raised their target price on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research note on Monday, April 15th. Jefferies Financial Group raised their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup lifted their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. lifted their target price on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.