Salesforce, Inc. (NYSE:CRM) Position Increased by First Pacific Financial

First Pacific Financial lifted its position in Salesforce, Inc. (NYSE:CRM) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,749 shares of the CRM provider’s stock after buying an additional 77 shares during the quarter. Salesforce makes up about 0.5% of First Pacific Financial’s holdings, making the stock its 27th largest holding. First Pacific Financial’s holdings in Salesforce were worth $2,256,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a research note on Monday, January 6th. The Goldman Sachs Group lifted their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. UBS Group upped their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Truist Financial reissued a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Down 0.1 %

NYSE CRM opened at $320.99 on Friday. 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 quick ratio of 1.11 and a current ratio of 1.11. The stock has a market cap of $307.18 billion, a PE ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. The firm has a 50-day simple moving average of $337.05 and a 200 day simple moving average of $290.87.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued 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 Activity

In other Salesforce news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at approximately $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’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 value of $117,824.77. Following 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. In the last three months, insiders have sold 1,183,838 shares of company stock worth $405,595,158. Corporate insiders own 3.20% of the company’s stock.

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.