Nations Financial Group Inc. IA ADV Buys 106 Shares of Salesforce, Inc. (NYSE:CRM)

Nations Financial Group Inc. IA ADV boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,810 shares of the CRM provider’s stock after purchasing an additional 106 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Salesforce were worth $2,277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC boosted its stake in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Salesforce by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after purchasing an additional 96,381 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.3 %

CRM opened at $325.49 on Friday. The firm has a market cap of $311.49 billion, a P/E ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. 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 stock has a 50-day moving average of $336.56 and a 200 day moving average of $302.79.

Salesforce (NYSE:CRM) last released its quarterly 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). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared 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 of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Northland Securities restated an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Stifel Nicolaus raised their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Macquarie restated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company raised their price target on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock worth $384,366,700 over the last 90 days. Company insiders own 3.20% of the company’s stock.

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.