NewSquare Capital LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

NewSquare Capital LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,130 shares of the CRM provider’s stock after purchasing an additional 510 shares during the quarter. NewSquare Capital LLC’s holdings in Salesforce were worth $3,981,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CRM. Marks Group Wealth Management Inc boosted its position in shares of Salesforce by 0.7% during the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after purchasing an additional 257 shares during the period. Walkner Condon Financial Advisors LLC boosted its stake in shares of Salesforce by 2.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after purchasing an additional 74 shares during the period. Roman Butler Fullerton & Co. increased its stake in Salesforce by 1.4% during the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after buying an additional 105 shares during the period. Pure Financial Advisors LLC acquired a new stake in Salesforce during the 4th quarter worth approximately $214,000. Finally, Riversedge Advisors LLC boosted its position in Salesforce by 21.7% in the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after buying an additional 420 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Truist Financial restated a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Wells Fargo & Company lifted their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Stifel Nicolaus reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research report on Wednesday, April 3rd. Finally, Bank of America raised their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the transaction, the chief executive officer now owns 13,671,166 shares of the company’s stock, valued at $3,838,726,701.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the completion of the transaction, the chief executive officer now directly owns 13,671,166 shares of the company’s stock, valued at $3,838,726,701.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 616,589 shares of company stock worth $181,071,306. 3.70% of the stock is owned by insiders.

Salesforce Stock Performance

CRM traded up $0.24 during trading on Wednesday, reaching $276.92. The company’s stock had a trading volume of 2,031,926 shares, compared to its average volume of 5,672,608. 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’s fifty day moving average price is $296.91 and its 200-day moving average price is $263.28. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The company has a market capitalization of $268.61 billion, a price-to-earnings ratio of 66.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings results 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. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

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.