RMR Wealth Builders Raises Holdings in Salesforce, Inc. (NYSE:CRM)

RMR Wealth Builders increased its stake in Salesforce, Inc. (NYSE:CRM) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,210 shares of the CRM provider’s stock after buying an additional 440 shares during the quarter. RMR Wealth Builders’ holdings in Salesforce were worth $2,745,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. Fisher Asset Management LLC raised its stake in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares during the period. Legal & General Group Plc grew its holdings in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,181,817 shares of company stock valued at $404,760,429. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CRM shares. Canaccord Genuity Group raised their target price on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays upped their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Stifel Nicolaus boosted their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Truist Financial reissued a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Price Performance

Shares of Salesforce stock traded down $9.07 during trading on Friday, hitting $317.83. 6,305,971 shares of the company’s stock traded hands, compared to its average volume of 4,902,714. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $304.16 billion, a PE ratio of 52.27, a PEG ratio of 3.21 and a beta of 1.30. The firm’s fifty day moving average price is $335.36 and its 200 day moving average price is $288.53.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 EPS. Analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio 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.