Forbes J M & Co. LLP Acquires 91 Shares of Salesforce, Inc. (NYSE:CRM)

Forbes J M & Co. LLP grew its stake in Salesforce, Inc. (NYSE:CRM) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,719 shares of the CRM provider’s stock after acquiring an additional 91 shares during the quarter. Forbes J M & Co. LLP’s holdings in Salesforce were worth $12,276,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRM. Wilmington Savings Fund Society FSB lifted its holdings in shares of Salesforce by 7.4% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 47,042 shares of the CRM provider’s stock valued at $15,728,000 after purchasing an additional 3,230 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Salesforce by 2.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 134,117 shares of the CRM provider’s stock worth $44,839,000 after purchasing an additional 2,892 shares during the last quarter. Apollon Wealth Management LLC grew its position in Salesforce by 17.7% in the 4th quarter. Apollon Wealth Management LLC now owns 30,365 shares of the CRM provider’s stock worth $10,152,000 after purchasing an additional 4,564 shares during the period. Apollon Financial LLC raised its stake in Salesforce by 3.4% during the 4th quarter. Apollon Financial LLC now owns 2,220 shares of the CRM provider’s stock valued at $742,000 after buying an additional 73 shares during the last quarter. Finally, TFG Advisers LLC lifted its holdings in shares of Salesforce by 5.3% during the 4th quarter. TFG Advisers LLC now owns 3,238 shares of the CRM provider’s stock valued at $1,083,000 after buying an additional 163 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CRM shares. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Loop Capital upped their target price on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Truist Financial reissued a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, BMO Capital Markets raised their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $325.81 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 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.09 and a beta of 1.31. The firm’s 50-day moving average is $339.05 and its 200 day moving average is $299.87.

Salesforce (NYSE:CRM) last released its 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the company posted $1.62 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. This represents a 11.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,111,420 shares of company stock worth $384,366,700. 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.