Pine Valley Investments Ltd Liability Co Buys 35 Shares of Salesforce, Inc. (NYSE:CRM)

Pine Valley Investments Ltd Liability Co lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,082 shares of the CRM provider’s stock after acquiring an additional 35 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Salesforce were worth $2,369,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its stake in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce during the 3rd quarter worth about $1,215,000. Prime Capital Investment Advisors LLC boosted its stake in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd boosted its stake in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CRM shares. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Barclays increased their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital decreased their target price on Salesforce from $360.00 to $330.00 and set a “hold” rating for the company in a research note on Wednesday, February 19th. Finally, Piper Sandler set a $405.00 target price on Salesforce in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $374.47.

Salesforce Trading Down 0.7 %

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

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued 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 0.52%. Salesforce’s dividend payout ratio is 26.32%.

Insider Activity at Salesforce

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

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.