Fortitude Family Office LLC Purchases 55 Shares of Salesforce, Inc. (NYSE:CRM)

Fortitude Family Office LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,603 shares of the CRM provider’s stock after acquiring an additional 55 shares during the quarter. Fortitude Family Office LLC’s holdings in Salesforce were worth $870,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the third quarter valued at $27,000. Clear Investment Research LLC lifted its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the period. Finally, Annapolis Financial Services LLC raised its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,181,817 shares of company stock worth $404,760,429 over the last three months. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Stifel Nicolaus increased their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. TD Cowen raised their target price on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets increased their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Price Performance

CRM stock opened at $326.67 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market capitalization of $312.62 billion, a P/E ratio of 53.73, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a fifty day simple moving average of $335.36 and a two-hundred day simple moving average of $288.53. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the business posted $1.62 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business 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 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is presently 26.32%.

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.