Whalen Wealth Management Inc. Purchases Shares of 1,354 Salesforce, Inc. (NYSE:CRM)

Whalen Wealth Management Inc. purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,354 shares of the CRM provider’s stock, valued at approximately $453,000.

Several other hedge funds have also recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the 3rd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. raised its stake in 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 acquiring an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Salesforce in the 3rd quarter valued at $53,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM opened at $332.67 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s fifty day simple moving average is $336.50 and its two-hundred day simple moving average is $293.20. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $318.37 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30.

Salesforce (NYSE:CRM) last released 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 business 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%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. As a group, analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given 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 dividend yield of 0.48%. Salesforce’s payout ratio is presently 26.32%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRM shares. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. DA Davidson lifted their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Northland Securities reissued an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,171,198 shares of company stock valued at $401,945,558 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

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.