Sandy Cove Advisors LLC Has $484,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Sandy Cove Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 19.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,449 shares of the CRM provider’s stock after buying an additional 237 shares during the period. Sandy Cove Advisors LLC’s holdings in Salesforce were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter worth $27,000. Godsey & Gibb Inc. grew its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter worth about $33,000. Annapolis Financial Services LLC raised its position 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 buying an additional 80 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Salesforce in the fourth quarter valued at about $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 1.5 %

Shares of NYSE:CRM opened at $324.77 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The company has a 50 day moving average of $337.31 and a 200-day moving average of $291.56. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

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

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CRM shares. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. Piper Sandler restated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Macquarie reiterated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Morgan Stanley lifted their target price on shares of 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, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is currently owned by company insiders.

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.