Oak Family Advisors LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Oak Family Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 988 shares of the CRM provider’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Czech National Bank grew its position in Salesforce by 6.7% in the 3rd quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock valued at $54,029,000 after acquiring an additional 12,314 shares during the last quarter. RBA Wealth Management LLC raised its holdings in shares of Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Salesforce by 46.8% during the third quarter. GAMMA Investing LLC now owns 10,328 shares of the CRM provider’s stock valued at $2,827,000 after purchasing an additional 3,292 shares in the last quarter. Herbst Group LLC raised its stake in Salesforce by 5.2% in the third quarter. Herbst Group LLC now owns 10,110 shares of the CRM provider’s stock worth $2,767,000 after buying an additional 500 shares in the last quarter. Finally, WealthBridge Capital Management LLC purchased a new stake in Salesforce during the third quarter worth $219,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,669 shares of company stock valued at $383,286,905 over the last ninety days. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. 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. BMO Capital Markets increased their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Down 0.5 %

Shares of Salesforce stock opened at $341.80 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market capitalization of $327.10 billion, a P/E ratio of 56.22, a P/E/G ratio of 3.09 and a beta of 1.31. The company has a 50 day moving average of $338.67 and a 200 day moving average of $297.66.

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 business had revenue of $9.44 billion during 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%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $1.62 EPS. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio is currently 26.32%.

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.