Aprio Wealth Management LLC Acquires 1,038 Shares of Salesforce, Inc. (NYSE:CRM)

Aprio Wealth Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 35.7% in the 4th quarter, Holdings Channel reports. The firm owned 3,945 shares of the CRM provider’s stock after purchasing an additional 1,038 shares during the quarter. Aprio Wealth Management LLC’s holdings in Salesforce were worth $1,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter valued at about $27,000. Clear Investment Research LLC raised its holdings in shares of Salesforce by 816.7% in the second 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 in the last quarter. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the second quarter valued at about $33,000. Finally, Annapolis Financial Services LLC raised its holdings in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 2.8 %

Shares of NYSE:CRM opened at $317.83 on Monday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market capitalization of $304.16 billion, a PE ratio of 52.27, a PEG ratio of 3.21 and a beta of 1.30. The business has a 50 day moving average of $335.82 and a two-hundred day moving average of $289.73. The company has a current ratio of 1.11, a quick 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 earnings per share (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 company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. As a group, 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. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Analysts Set New Price Targets

Several research firms recently weighed in on CRM. Canaccord Genuity Group lifted their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Truist Financial reiterated 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. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty 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 has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 3.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value 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. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is 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.