Salesforce, Inc. (NYSE:CRM) Shares Acquired by Good Life Advisors LLC

Good Life Advisors LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 413.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,190 shares of the CRM provider’s stock after purchasing an additional 7,401 shares during the quarter. Good Life Advisors LLC’s holdings in Salesforce were worth $2,466,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CRM. Tallon Kerry Patrick bought a new stake in Salesforce in the fourth quarter worth about $236,000. Brighton Jones LLC raised its position in Salesforce by 13.7% in the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after acquiring an additional 3,102 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Salesforce in the fourth quarter worth about $104,173,000. Revolve Wealth Partners LLC raised its position in Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares in the last quarter. Finally, ABC Arbitrage SA bought a new stake in Salesforce in the fourth quarter worth about $1,476,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Parker Harris sold 3,273 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the transaction, the insider now directly owns 125,146 shares in the company, valued at $35,614,048.68. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 705 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the transaction, the insider now owns 9,323 shares of the company’s stock, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,111 shares of company stock valued at $9,299,283 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Piper Sandler boosted their price objective on Salesforce from $315.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group boosted their price objective on Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $346.34.

Salesforce Stock Down 3.2%

Shares of Salesforce stock opened at $258.25 on Monday. The stock has a market capitalization of $246.89 billion, a P/E ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a 50 day moving average price of $268.09 and a two-hundred day moving average price of $299.72. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 earnings per share. Equities analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. Salesforce’s payout ratio is currently 25.98%.

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.