Blue Barn Wealth LLC Buys 156 Shares of Salesforce, Inc. (NYSE:CRM)

Blue Barn Wealth LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,168 shares of the CRM provider’s stock after purchasing an additional 156 shares during the period. Blue Barn Wealth LLC’s holdings in Salesforce were worth $570,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares in the last quarter. International Assets Investment Management LLC increased its stake in Salesforce by 23,653.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after acquiring an additional 1,400,300 shares during the period. Lone Pine Capital LLC raised its holdings in Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after acquiring an additional 804,634 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after purchasing an additional 752,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Salesforce by 330.0% in the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock worth $189,779,000 after purchasing an additional 718,245 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent analyst reports. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Robert W. Baird raised their target price on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Argus upped their price target on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Jefferies Financial Group raised their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Wells Fargo & Company upped their target price on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Stock Performance

Shares of CRM stock traded up $1.79 during trading on Wednesday, hitting $278.97. The company’s stock had a trading volume of 3,030,225 shares, compared to its average volume of 5,499,122. The business has a fifty day moving average of $293.29 and a 200-day moving average of $267.99. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a market cap of $270.04 billion, a PE ratio of 66.59, a P/E/G ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.57%. Salesforce’s payout ratio is 9.52%.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now owns 38,483 shares in the company, valued at approximately $11,903,561.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $275.45, for a total value of $4,131,750.00. Following the transaction, the chief executive officer now directly owns 12,662,327 shares of the company’s stock, valued at approximately $3,487,837,972.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 619,993 shares of company stock worth $181,048,574. 3.70% of the stock is owned by corporate insiders.

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.