Stratos Wealth Partners LTD. Has $12.44 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Stratos Wealth Partners LTD. boosted its position in Salesforce, Inc. (NYSE:CRM) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,220 shares of the CRM provider’s stock after purchasing an additional 957 shares during the period. Stratos Wealth Partners LTD.’s holdings in Salesforce were worth $12,444,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Godsey & Gibb Inc. raised its stake in 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 acquiring an additional 90 shares during the period. Annapolis Financial Services LLC lifted its holdings in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. FSA Wealth Management LLC bought a new position in Salesforce during the third quarter worth $53,000. Finally, Friedenthal Financial acquired a new position in shares of Salesforce in the fourth quarter valued at $55,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the stock in a transaction on Friday, November 22nd. The shares were 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 SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $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. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRM shares. Piper Sandler restated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Guggenheim lowered Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research note on Monday, January 6th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $380.00 to $400.00 in a research note on Friday, January 17th. 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 report on Friday, December 13th. Finally, Cfra set a $343.00 target price on shares of Salesforce in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Performance

Shares of Salesforce stock opened at $344.07 on Wednesday. The stock has a market cap of $329.28 billion, a price-to-earnings ratio of 56.59, a P/E/G ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s fifty day moving average is $338.67 and its 200 day moving average is $298.64. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business earned $1.62 earnings per share. Salesforce’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

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.