Salesforce, Inc. (NYSE:CRM) Stake Lessened by Semus Wealth Partners LLC

Semus Wealth Partners LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,373 shares of the CRM provider’s stock after selling 61 shares during the period. Semus Wealth Partners LLC’s holdings in Salesforce were worth $361,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CRM. Avid Wealth Partners LLC bought a new stake in Salesforce in the fourth quarter worth about $236,000. Ballentine Partners LLC lifted its stake in shares of Salesforce by 22.2% in the fourth quarter. Ballentine Partners LLC now owns 14,865 shares of the CRM provider’s stock worth $3,912,000 after buying an additional 2,699 shares during the last quarter. Milestone Asset Management LLC acquired a new position in Salesforce during the 4th quarter worth $214,000. Trust Point Inc. bought a new stake in Salesforce during the 4th quarter valued at approximately $1,449,000. Finally, Parcion Private Wealth LLC boosted its position in shares of Salesforce by 9.0% in the fourth quarter. Parcion Private Wealth LLC now owns 5,343 shares of the CRM provider’s stock valued at $1,406,000 after acquiring an additional 442 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $251.61, for a total value of $3,774,150.00. Following the sale, the chief executive officer now owns 13,896,166 shares in the company, valued at approximately $3,496,414,327.26. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $251.61, for a total transaction of $3,774,150.00. Following the transaction, the chief executive officer now owns 13,896,166 shares in the company, valued at approximately $3,496,414,327.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. Insiders sold 913,175 shares of company stock worth $261,391,996 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. JMP Securities raised their price target on shares of Salesforce from $293.00 to $342.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 29th. KeyCorp started coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Piper Sandler reissued a “neutral” rating and set a $285.00 target price on shares of Salesforce in a research note on Wednesday, February 28th. Mizuho reissued a “buy” rating and issued a $345.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, UBS Group increased their price objective on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $304.97.

Read Our Latest Stock Analysis on CRM

Salesforce Stock Performance

Shares of CRM stock traded up $0.74 during mid-day trading on Wednesday, hitting $304.74. The stock had a trading volume of 3,029,396 shares, compared to its average volume of 5,662,116. The firm has a market cap of $295.60 billion, a PE ratio of 72.56, a PEG ratio of 2.32 and a beta of 1.28. The company’s 50-day simple moving average is $296.10 and its 200-day simple moving average is $254.65. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s dividend payout ratio is presently 9.52%.

Salesforce Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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