Everpar Advisors LLC Invests $295,000 in Salesforce, Inc. (NYSE:CRM)

Everpar Advisors LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,120 shares of the CRM provider’s stock, valued at approximately $295,000.

Several other large investors have also added to or reduced their stakes in the business. Gryphon Financial Partners LLC lifted its position in Salesforce by 32.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock valued at $1,064,000 after acquiring an additional 970 shares in the last quarter. Moss Adams Wealth Advisors LLC bought a new position in Salesforce in the 4th quarter valued at about $218,000. Cherry Tree Wealth Management LLC lifted its position in Salesforce by 139.0% in the 4th quarter. Cherry Tree Wealth Management LLC now owns 251 shares of the CRM provider’s stock valued at $66,000 after acquiring an additional 146 shares in the last quarter. Balanced Wealth Group LLC bought a new position in Salesforce in the 4th quarter valued at about $225,000. Finally, Patrick M Sweeney & Associates Inc. bought a new position in Salesforce in the 4th quarter valued at about $232,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock traded up $1.67 during mid-day trading on Wednesday, reaching $278.85. The company’s stock had a trading volume of 3,282,396 shares, compared to its average volume of 5,499,356. The firm’s fifty day moving average price is $293.29 and its two-hundred day moving average price is $267.99. The company has a market capitalization of $269.93 billion, a P/E ratio of 66.39, a PEG ratio of 2.10 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.57%. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $277.22, for a total transaction of $1,164,324.00. Following the completion of the sale, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $32,091,541.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $277.22, for a total transaction of $1,164,324.00. Following the completion of the sale, the insider now directly owns 115,762 shares of the company’s stock, valued at approximately $32,091,541.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, May 6th. The stock was sold at an average price of $275.45, for a total transaction of $4,131,750.00. Following the sale, the chief executive officer now directly owns 12,662,327 shares of the company’s stock, valued at $3,487,837,972.15. The disclosure for this sale can be found here. Insiders sold 624,193 shares of company stock worth $182,212,898 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CRM shares. Mizuho reaffirmed a “buy” rating and issued a $345.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Jefferies Financial Group lifted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. UBS Group lifted their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Bank of America lifted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Wells Fargo & Company lifted their target price on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $310.61.

About Salesforce

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.