Occidental Asset Management LLC Purchases 6,638 Shares of Salesforce, Inc. (NYSE:CRM)

Occidental Asset Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 146.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,160 shares of the CRM provider’s stock after acquiring an additional 6,638 shares during the quarter. Occidental Asset Management LLC’s holdings in Salesforce were worth $3,731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at $27,000. Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter worth about $33,000. Annapolis Financial Services LLC increased 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 worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in shares of Salesforce during the 4th quarter worth approximately $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRM. DA Davidson boosted their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a report on Monday, January 6th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. UBS Group upped their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock opened at $320.99 on Friday. The firm’s 50 day moving average is $337.05 and its 200 day moving average is $290.87. The firm has a market capitalization of $307.18 billion, a PE ratio of 52.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

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

Insider Transactions at Salesforce

In other news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,183,838 shares of company stock worth $405,595,158. 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.