Cherry Tree Wealth Management LLC Purchases 146 Shares of Salesforce, Inc. (NYSE:CRM)

Cherry Tree Wealth Management LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 139.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251 shares of the CRM provider’s stock after buying an additional 146 shares during the quarter. Cherry Tree Wealth Management LLC’s holdings in Salesforce were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its position in Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the period. International Assets Investment Management LLC grew its position in shares of Salesforce by 23,653.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after buying an additional 1,400,300 shares during the period. Lone Pine Capital LLC raised its stake in shares of Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after buying an additional 752,566 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Salesforce by 330.0% in the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after acquiring an additional 718,245 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Shares of CRM traded up $1.58 during midday trading on Tuesday, reaching $277.21. The stock had a trading volume of 3,507,109 shares, compared to its average volume of 5,527,244. The firm has a 50 day simple moving average of $293.29 and a 200-day simple moving average of $267.99. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $268.34 billion, a PE ratio of 66.00, a P/E/G ratio of 2.10 and a beta of 1.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

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

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $288.30, for a total transaction of $4,324,500.00. Following the completion of the sale, the chief executive officer now directly owns 13,551,166 shares of the company’s stock, valued at approximately $3,906,801,157.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Srinivas Tallapragada sold 2,890 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $893,934.80. Following the transaction, the insider now directly owns 60,416 shares in the company, valued at $18,687,877.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $288.30, for a total transaction of $4,324,500.00. Following the completion of the transaction, the chief executive officer now owns 13,551,166 shares in the company, valued at $3,906,801,157.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 634,993 shares of company stock worth $185,373,074. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Stifel Nicolaus restated a “buy” rating and set a $350.00 target price on shares of Salesforce in a report on Wednesday, April 3rd. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Wedbush lifted their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Piper Sandler restated a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

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.