Foundations Investment Advisors LLC Raises Stock Position in Salesforce, Inc. (NYSE:CRM)

Foundations Investment Advisors LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 15.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,473 shares of the CRM provider’s stock after acquiring an additional 4,752 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Salesforce were worth $12,194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Ascent Group LLC boosted its stake in Salesforce by 15.2% during the 2nd quarter. Ascent Group LLC now owns 19,556 shares of the CRM provider’s stock worth $5,028,000 after purchasing an additional 2,581 shares during the last quarter. Aviso Wealth Management boosted its stake in Salesforce by 10.9% during the 2nd quarter. Aviso Wealth Management now owns 3,075 shares of the CRM provider’s stock worth $791,000 after purchasing an additional 302 shares during the last quarter. Doheny Asset Management CA acquired a new stake in Salesforce during the 2nd quarter worth $1,799,000. Copperwynd Financial LLC boosted its stake in Salesforce by 23.1% during the 2nd quarter. Copperwynd Financial LLC now owns 3,197 shares of the CRM provider’s stock worth $827,000 after purchasing an additional 599 shares during the last quarter. Finally, Magnolia Capital Advisors LLC boosted its stake in Salesforce by 10.9% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,351 shares of the CRM provider’s stock worth $1,119,000 after purchasing an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $337.08 on Monday. The company has a market capitalization of $322.59 billion, a P/E ratio of 55.44, a PEG ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The business has a 50 day simple moving average of $336.73 and a 200-day simple moving average of $294.60. 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 issued its quarterly earnings results 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). 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 analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. This trade represents a 3.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,173,891 shares of company stock worth $402,840,388. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent research reports. Morgan Stanley boosted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Robert W. Baird boosted their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Scotiabank boosted their price target on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Finally, Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.