Pittenger & Anderson Inc. Purchases 441 Shares of Salesforce, Inc. (NYSE:CRM)

Pittenger & Anderson Inc. increased its position in Salesforce, Inc. (NYSE:CRM) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,828 shares of the CRM provider’s stock after purchasing an additional 441 shares during the quarter. Salesforce makes up about 1.0% of Pittenger & Anderson Inc.’s portfolio, making the stock its 23rd biggest position. Pittenger & Anderson Inc.’s holdings in Salesforce were worth $22,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Graypoint LLC increased its position in shares of Salesforce by 0.3% during the fourth 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 increased its holdings in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares during the last quarter. Prentice Wealth Management LLC increased its holdings in Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares during the last quarter. MV Capital Management Inc. increased its holdings in Salesforce by 3.9% in the fourth quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after buying an additional 39 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. increased its holdings in Salesforce by 0.4% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 8,901 shares of the CRM provider’s stock valued at $2,342,000 after buying an additional 39 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRM. Oppenheimer raised their price objective on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Truist Financial reaffirmed a “buy” rating and set a $360.00 price objective (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Monday, April 15th. Wells Fargo & Company raised their price objective on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Finally, TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, March 1st. The shares were 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 in the company, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares in the company, valued at approximately $12,040,011.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now 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. In the last 90 days, insiders have sold 620,793 shares of company stock worth $182,177,918. 3.70% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.5 %

CRM stock traded up $1.42 during midday trading on Friday, hitting $274.56. The stock had a trading volume of 1,867,440 shares, compared to its average volume of 5,638,295. The firm has a market cap of $266.32 billion, a PE ratio of 65.67, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. 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, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The company’s 50-day moving average price is $296.28 and its 200 day moving average price is $263.44.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm 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%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 EPS. On average, equities research analysts predict 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. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 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.