Fielder Capital Group LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

Fielder Capital Group LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,289 shares of the CRM provider’s stock after acquiring an additional 38 shares during the period. Fielder Capital Group LLC’s holdings in Salesforce were worth $431,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have weighed in on CRM shares. Truist Financial restated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Scotiabank lowered their target price on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research report on Thursday. BMO Capital Markets decreased their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.32.

Salesforce Trading Down 4.1 %

NYSE:CRM opened at $294.80 on Friday. The firm has a 50-day simple moving average of $330.03 and a 200-day simple moving average of $306.89. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market cap of $282.12 billion, a P/E ratio of 48.49, a P/E/G ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts anticipate that Salesforce, Inc. will post 7.46 EPS 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock valued at $381,283,706 in the last 90 days. Insiders own 3.20% of the company’s stock.

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.