Roanoke Asset Management Corp NY Lowers Stake in Salesforce, Inc. (NYSE:CRM)

Roanoke Asset Management Corp NY lowered its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,620 shares of the CRM provider’s stock after selling 140 shares during the period. Salesforce accounts for about 2.1% of Roanoke Asset Management Corp NY’s investment portfolio, making the stock its 13th biggest holding. Roanoke Asset Management Corp NY’s holdings in Salesforce were worth $5,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Graypoint LLC grew its stake in shares of Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp grew its stake in shares of Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its stake in shares of Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its stake in shares of Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM traded up $0.93 on Friday, hitting $285.61. 3,478,869 shares of the company were exchanged, compared to its average volume of 4,227,119. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The business’s fifty day moving average is $289.14 and its 200 day moving average is $271.54. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market capitalization of $276.47 billion, a P/E ratio of 68.00, a price-to-earnings-growth ratio of 2.19 and a beta of 1.30.

Salesforce (NYSE:CRMGet Free Report) 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Piper Sandler reaffirmed a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Citigroup lifted their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Finally, Truist Financial reaffirmed a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Get Our Latest Report on Salesforce

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 7,075 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 $2,188,439.00. Following the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at $11,903,561.56. 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 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 directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Insiders have sold 635,499 shares of company stock valued at $184,795,784 over the last quarter. Corporate insiders own 3.70% of the company’s stock.

Salesforce Company 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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