Salesforce, Inc. (NYSE:CRM) Holdings Raised by McLean Asset Management Corp

McLean Asset Management Corp boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 24.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,200 shares of the CRM provider’s stock after buying an additional 235 shares during the period. McLean Asset Management Corp’s holdings in Salesforce were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Sachetta LLC boosted its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in shares of Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the last quarter. EWA LLC boosted its stake in shares of Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank boosted its stake in shares of Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after buying an additional 34 shares during the last quarter. Finally, Principal Street Partners LLC boosted its stake in shares of Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after buying an additional 34 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 708 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the transaction, the chief operating officer now directly owns 1,239 shares in the company, valued at $411,694.92. This represents a 36.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,534,090. This represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,173,891 shares of company stock valued at $402,840,388. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRM. Piper Sandler restated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, DA Davidson lifted their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Down 0.4 %

Shares of CRM stock opened at $333.47 on Monday. The company has a market capitalization of $319.13 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s fifty day moving average price is $336.73 and its 200-day moving average price is $294.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is presently 26.32%.

About Salesforce

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.