Bradley & Co. Private Wealth Management LLC Buys New Position in Salesforce, Inc. (NYSE:CRM)

Bradley & Co. Private Wealth Management LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 509 shares of the CRM provider’s stock, valued at approximately $170,000.

Several other large investors have also added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter worth $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,572 shares of company stock valued at $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $306.02 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market capitalization of $292.86 billion, a P/E ratio of 50.33, a PEG ratio of 2.58 and a beta of 1.31. The company has a fifty day moving average price of $331.46 and a 200-day moving average price of $306.97.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Salesforce from $390.00 to $350.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler set a $405.00 price objective on Salesforce in a research report on Tuesday, January 21st. Wells Fargo & Company raised their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. DA Davidson upped their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Robert W. Baird raised their price objective on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $374.47.

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.