Friedenthal Financial Acquires New Stake in Salesforce, Inc. (NYSE:CRM)

Friedenthal Financial bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 165 shares of the CRM provider’s stock, valued at approximately $55,000.

Other institutional investors have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth about $33,000. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC boosted its position in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in Salesforce by 38.3% during the second quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock worth $53,000 after purchasing an additional 57 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CRM shares. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group lifted their price target 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. Robert W. Baird increased their price objective on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their target price on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Stock Up 0.5 %

Shares of NYSE CRM opened at $319.39 on Tuesday. 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 stock has a market capitalization of $305.66 billion, a PE ratio of 52.53, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business’s fifty day moving average price is $336.25 and its 200-day moving average price is $290.19.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,617 shares of company stock worth $403,542,975 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Company 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.