RDA Financial Network Buys New Stake in Salesforce, Inc. (NYSE:CRM)

RDA Financial Network bought a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,688 shares of the CRM provider’s stock, valued at approximately $1,567,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC boosted its holdings in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Salesforce during the third quarter worth about $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock opened at $320.99 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $307.18 billion, a PE ratio of 52.79, a P/E/G ratio of 2.87 and a beta of 1.30. The firm’s 50-day moving average price is $337.05 and its 200 day moving average price is $290.87.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s payout ratio is presently 26.32%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CRM. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays boosted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus boosted their price target on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,183,838 shares of company stock worth $405,595,158. Insiders own 3.20% of the company’s stock.

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.