1900 Wealth Management LLC Purchases New Holdings in Salesforce, Inc. (NYSE:CRM)

1900 Wealth Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 969 shares of the CRM provider’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Graypoint LLC lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the period. Opes Wealth Management LLC lifted its holdings in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares during the period. Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 38 shares during the period. MV Capital Management Inc. lifted its holdings in shares of Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after acquiring an additional 39 shares during the period. Finally, Legal Advantage Investments Inc. increased its position in Salesforce by 0.7% during the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock worth $1,466,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. Robert W. Baird upped their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler reiterated a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, April 15th. KeyCorp initiated coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price objective (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Wolfe Research reiterated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Stock Up 1.0 %

Shares of NYSE CRM opened at $276.63 on Wednesday. The firm has a market cap of $268.33 billion, a PE ratio of 65.86, a P/E/G ratio of 2.11 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The company’s fifty day simple moving average is $296.91 and its 200 day simple moving average is $263.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,104,977.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Brian Millham sold 24,453 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,104,977.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 616,589 shares of company stock valued at $181,071,306. Corporate insiders own 3.70% of the company’s stock.

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.