RPG Investment Advisory LLC Raises Holdings in Salesforce, Inc. (NYSE:CRM)

RPG Investment Advisory LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 38,147 shares of the CRM provider’s stock after acquiring an additional 46 shares during the quarter. Salesforce accounts for approximately 1.7% of RPG Investment Advisory LLC’s holdings, making the stock its 20th biggest holding. RPG Investment Advisory LLC’s holdings in Salesforce were worth $12,754,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the third quarter worth $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in Salesforce in the fourth quarter worth $30,000. Asset Planning Inc purchased a new position in Salesforce in the fourth quarter worth $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce during the fourth quarter worth $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Salesforce stock opened at $309.54 on Monday. The firm has a market cap of $296.23 billion, a PE ratio of 50.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $333.34 and its two-hundred day moving average is $306.18.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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 dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CRM shares. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Citigroup boosted their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,102,114 shares of company stock valued at $381,142,656. Insiders own 3.20% 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.