Fort Sheridan Advisors LLC Purchases 100 Shares of Salesforce, Inc. (NYSE:CRM)

Fort Sheridan Advisors LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,629 shares of the CRM provider’s stock after purchasing an additional 100 shares during the period. Fort Sheridan Advisors LLC’s holdings in Salesforce were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC raised its holdings in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Salesforce by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after buying an additional 96,381 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock worth $381,283,706 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Guggenheim reiterated a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research note on Thursday. Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Piper Sandler reduced their price objective on shares of Salesforce from $405.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $365.32.

Salesforce Price Performance

NYSE:CRM opened at $294.80 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock’s 50-day moving average price is $330.03 and its 200-day moving average price is $306.89. The stock has a market capitalization of $282.12 billion, a PE ratio of 48.49, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.62 earnings per share. As a group, equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

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.