Salesforce, Inc. (NYSE:CRM) Stock Holdings Lifted by LVW Advisors LLC

LVW Advisors LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,044 shares of the CRM provider’s stock after purchasing an additional 198 shares during the period. LVW Advisors LLC’s holdings in Salesforce were worth $683,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter valued at $33,000. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC boosted its holdings in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Salesforce during the third quarter worth $53,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 1.5 %

NYSE CRM opened at $324.77 on Tuesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a 50-day simple moving average of $337.31 and a 200 day simple moving average of $292.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $310.81 billion, a PE ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30.

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

Salesforce Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRM. Canaccord Genuity Group boosted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Jefferies Financial Group raised their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,173,477 shares of company stock worth $402,596,964. Corporate insiders own 3.20% of the company’s stock.

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.