Compound Global Advisors LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Compound Global Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,800 shares of the CRM provider’s stock, valued at approximately $602,000. Salesforce accounts for 2.4% of Compound Global Advisors LLC’s portfolio, making the stock its 16th largest position.

Several other institutional investors have also bought and sold shares of the company. RBA Wealth Management LLC raised its stake in Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after acquiring an additional 574 shares during the period. Sound Income Strategies LLC raised its position in shares of Salesforce by 20.3% in the third quarter. Sound Income Strategies LLC now owns 639 shares of the CRM provider’s stock valued at $175,000 after purchasing an additional 108 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Salesforce by 155.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 116,004 shares of the CRM provider’s stock valued at $31,751,000 after buying an additional 70,580 shares in the last quarter. Thomasville National Bank boosted its holdings in Salesforce by 1.4% in the 3rd quarter. Thomasville National Bank now owns 101,071 shares of the CRM provider’s stock worth $27,664,000 after buying an additional 1,347 shares during the period. Finally, Paladin Wealth LLC purchased a new position in Salesforce in the 3rd quarter valued at approximately $159,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of Salesforce stock opened at $326.95 on Tuesday. The company’s fifty day simple moving average is $338.97 and its two-hundred day simple moving average is $301.03. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $312.89 billion, a PE ratio of 53.77, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. 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 posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued 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 0.49%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following 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 position. 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. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $405.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Company 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.