Salesforce, Inc. (NYSE:CRM) Shares Acquired by Consolidated Capital Management LLC

Consolidated Capital Management LLC lifted its stake in Salesforce, Inc. (NYSE:CRM) by 15.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,513 shares of the CRM provider’s stock after acquiring an additional 206 shares during the period. Salesforce comprises about 0.2% of Consolidated Capital Management LLC’s holdings, making the stock its 28th biggest position. Consolidated Capital Management LLC’s holdings in Salesforce were worth $506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the third quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the second quarter valued at approximately $33,000. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its stake in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Salesforce in the 3rd quarter valued at about $53,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE:CRM opened at $324.77 on Monday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The firm’s fifty day moving average is $337.31 and its 200-day moving average is $291.80.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock valued at $405,595,158 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CRM shares. Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. UBS Group raised their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, BMO Capital Markets lifted their price target on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.