1858 Wealth Management LLC Has $320,000 Holdings in Salesforce, Inc. (NYSE:CRM)

1858 Wealth Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 958 shares of the CRM provider’s stock after purchasing an additional 41 shares during the period. 1858 Wealth Management LLC’s holdings in Salesforce were worth $320,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth $27,000. Godsey & Gibb Inc. raised its holdings in shares of 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 acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Friedenthal Financial bought a new position in Salesforce in the 4th quarter valued at about $55,000. Finally, Rosenberg Matthew Hamilton boosted its stake in Salesforce by 88.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock valued at $59,000 after purchasing an additional 83 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRM. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. Macquarie reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Robert W. Baird increased their target price on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Up 1.4 %

Shares of NYSE CRM opened at $344.07 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $329.28 billion, a P/E ratio of 56.59, a P/E/G ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The business has a 50-day simple moving average of $338.67 and a two-hundred day simple moving average of $298.64.

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 firm 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now owns 6,557 shares in the company, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 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.