Kingsview Wealth Management LLC Raises Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Kingsview Wealth Management LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,117 shares of the CRM provider’s stock after buying an additional 2,892 shares during the quarter. Salesforce comprises approximately 0.9% of Kingsview Wealth Management LLC’s portfolio, making the stock its 24th biggest position. Kingsview Wealth Management LLC’s holdings in Salesforce were worth $44,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Apollon Wealth Management LLC grew its stake in shares of Salesforce by 17.7% in the fourth quarter. Apollon Wealth Management LLC now owns 30,365 shares of the CRM provider’s stock worth $10,152,000 after acquiring an additional 4,564 shares during the last quarter. Apollon Financial LLC grew its position in Salesforce by 3.4% during the 4th quarter. Apollon Financial LLC now owns 2,220 shares of the CRM provider’s stock valued at $742,000 after purchasing an additional 73 shares during the last quarter. TFG Advisers LLC increased its stake in Salesforce by 5.3% during the 4th quarter. TFG Advisers LLC now owns 3,238 shares of the CRM provider’s stock valued at $1,083,000 after purchasing an additional 163 shares in the last quarter. Vest Financial LLC raised its holdings in Salesforce by 17.0% in the fourth quarter. Vest Financial LLC now owns 6,084 shares of the CRM provider’s stock worth $2,034,000 after buying an additional 883 shares during the last quarter. Finally, Austin Asset Management Co Inc bought a new position in shares of Salesforce in the fourth quarter worth approximately $214,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 317,105 shares of the business’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 transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRM. Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Northland Securities restated an “outperform” rating and set a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a research note on Monday, January 6th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned 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.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Down 1.5 %

NYSE CRM opened at $325.81 on Friday. The stock has a 50 day moving average price of $339.05 and a 200-day moving average price of $299.87. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $311.80 billion, a P/E ratio of 53.59, a P/E/G ratio of 3.09 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 issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 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 business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced 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 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 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.