LWM Advisory Services LLC Acquires New Shares in Salesforce, Inc. (NYSE:CRM)

LWM Advisory Services LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 864 shares of the CRM provider’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce in the 4th quarter valued at $31,000. BKM Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at $34,000. Pacifica Partners Inc. raised its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the period. Finally, AlphaMark Advisors LLC raised its holdings in shares of Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRM. Evercore ISI boosted their target price on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 target price (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. BMO Capital Markets boosted their target price on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Wedbush boosted their target price on Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Finally, Truist Financial reissued a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Stock Performance

CRM traded up $1.57 on Monday, hitting $275.86. 3,608,431 shares of the company traded hands, compared to its average volume of 5,637,167. The company has a 50 day moving average of $295.97 and a 200-day moving average of $264.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $267.58 billion, a PE ratio of 65.27, a PEG ratio of 2.11 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00. Following the sale, the chief executive officer now owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. In the last three months, insiders sold 610,793 shares of company stock valued at $179,197,018. Corporate insiders own 3.70% of the company’s stock.

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.