Gray Wealth Management Inc. Invests $213,000 in Salesforce, Inc. (NYSE:CRM)

Gray Wealth Management Inc. bought a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 808 shares of the CRM provider’s stock, valued at approximately $213,000.

Several other large investors have also recently made changes to their positions in the company. Walkner Condon Financial Advisors LLC grew its position in Salesforce by 2.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after acquiring an additional 74 shares in the last quarter. Roman Butler Fullerton & Co. boosted its position in shares of Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after buying an additional 105 shares during the period. Pure Financial Advisors LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $214,000. Riversedge Advisors LLC boosted its position in shares of Salesforce by 21.7% during the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after buying an additional 420 shares during the period. Finally, CHURCHILL MANAGEMENT Corp purchased a new position in shares of Salesforce during the third quarter valued at approximately $2,499,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $282.55, for a total value of $4,238,250.00. Following the completion of the sale, the chief executive officer now directly owns 13,731,166 shares of the company’s stock, valued at $3,879,740,953.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 628,184 shares of company stock valued at $184,794,698. 3.70% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of CRM traded down $0.32 during mid-day trading on Friday, hitting $271.60. 719,518 shares of the company were exchanged, compared to its average volume of 5,641,438. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day moving average of $297.70 and a 200-day moving average of $260.97. The stock has a market cap of $263.45 billion, a price-to-earnings ratio of 64.59, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI boosted their target price on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Robert W. Baird boosted their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Oppenheimer boosted their price target on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Truist Financial reiterated a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, UBS Group boosted their price target on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has 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 target price of $307.87.

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.