Ignite Planners LLC Has $507,000 Stake in Salesforce, Inc. (NYSE:CRM)

Ignite Planners LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 19.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,524 shares of the CRM provider’s stock after acquiring an additional 251 shares during the quarter. Ignite Planners LLC’s holdings in Salesforce were worth $507,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CRM. Nabity Jensen Investment Management Inc bought a new stake in Salesforce in the third quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC boosted its holdings in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its holdings in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares in the last quarter. AIA Group Ltd lifted its holdings in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,177,617 shares of company stock worth $403,542,975. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.3 %

Shares of NYSE:CRM opened at $323.31 on Wednesday. The stock has a market cap of $309.41 billion, a P/E ratio of 53.18, a P/E/G ratio of 3.20 and a beta of 1.30. The firm has a fifty day moving average price of $336.76 and a 200 day moving average price of $290.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is presently 26.32%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CRM shares. Macquarie reissued a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Citigroup increased their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research note on Monday, January 6th. Finally, Morgan Stanley lifted their price target on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Company 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.