DeDora Capital Inc. Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

DeDora Capital Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 60.3% during the first quarter, Holdings Channel.com reports. The firm owned 7,098 shares of the CRM provider’s stock after buying an additional 2,670 shares during the quarter. DeDora Capital Inc.’s holdings in Salesforce were worth $2,138,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Salesforce by 7.3% in the 3rd quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 1,032 shares of the CRM provider’s stock valued at $209,000 after acquiring an additional 70 shares during the period. Smithbridge Asset Management Inc. DE increased its stake in Salesforce by 1.1% during the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 15,040 shares of the CRM provider’s stock worth $3,050,000 after buying an additional 168 shares during the period. Geneva Partners LLC purchased a new stake in Salesforce during the 3rd quarter worth approximately $858,000. Sage Mountain Advisors LLC grew its holdings in Salesforce by 20.1% during the 3rd quarter. Sage Mountain Advisors LLC now owns 2,881 shares of the CRM provider’s stock worth $584,000 after acquiring an additional 483 shares in the last quarter. Finally, BNC Wealth Management LLC acquired a new position in Salesforce during the 3rd quarter worth approximately $2,159,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Truist Financial restated a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their target price on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Finally, Bank of America upped their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Stock Performance

Salesforce stock traded up $1.53 during trading hours on Friday, reaching $273.66. 4,041,636 shares of the stock were exchanged, compared to its average volume of 5,219,539. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52-week low of $190.76 and a 52-week high of $318.71. The firm’s 50 day moving average is $294.23 and its 200 day moving average is $266.17. The stock has a market cap of $264.90 billion, a P/E ratio of 65.16, a P/E/G ratio of 2.09 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 net margin of 11.87% and a return on equity of 10.42%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. Analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now directly owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The disclosure for this sale can be found here. Insiders have sold 629,993 shares of company stock valued at $184,255,474 over the last quarter. Corporate insiders own 3.70% 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.