Salesforce, Inc. (NYSE:CRM) Shares Purchased by Spinnaker Trust

Spinnaker Trust raised its holdings in Salesforce, Inc. (NYSE:CRM) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,707 shares of the CRM provider’s stock after buying an additional 1,054 shares during the period. Spinnaker Trust’s holdings in Salesforce were worth $7,817,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRM. Marks Group Wealth Management Inc lifted its stake in Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after acquiring an additional 257 shares during the last quarter. Walkner Condon Financial Advisors LLC lifted its position in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after purchasing an additional 74 shares during the last quarter. Roman Butler Fullerton & Co. grew its stake in shares of Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after purchasing an additional 105 shares in the last quarter. Pure Financial Advisors LLC purchased a new position in Salesforce in the fourth quarter valued at $214,000. Finally, Riversedge Advisors LLC raised its stake in Salesforce by 21.7% in the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after buying an additional 420 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock traded up $1.07 during midday trading on Friday, hitting $274.21. 3,753,890 shares of the stock were exchanged, compared to its average volume of 5,661,873. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $265.98 billion, a price-to-earnings ratio of 65.29, a PEG ratio of 2.12 and a beta of 1.28. Salesforce, Inc. has a fifty-two week low of $190.76 and a fifty-two week high of $318.71. The stock’s 50-day moving average price is $295.97 and its 200-day moving average price is $263.90.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRM. Piper Sandler reiterated a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a report on Monday, April 15th. Stifel Nicolaus reissued a “buy” rating and set a $350.00 price objective on shares of Salesforce in a report on Wednesday, April 3rd. Wolfe Research restated an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Bank of America lifted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Evercore ISI upped their price objective on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Activity

In other news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at $11,903,561.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock worth $182,177,918 over the last three months. 3.70% of the stock is currently owned by corporate 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.