BankPlus Wealth Management LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

BankPlus Wealth Management LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,194 shares of the CRM provider’s stock, valued at approximately $734,000.

Several other hedge funds have also recently bought and sold shares of the company. Bay Rivers Group grew its holdings in Salesforce by 33.5% in the fourth quarter. Bay Rivers Group now owns 10,147 shares of the CRM provider’s stock valued at $3,392,000 after purchasing an additional 2,548 shares during the last quarter. Nilsine Partners LLC raised its stake in shares of Salesforce by 4.5% during the 4th quarter. Nilsine Partners LLC now owns 7,463 shares of the CRM provider’s stock worth $2,495,000 after buying an additional 323 shares during the last quarter. Lebenthal Global Advisors LLC boosted its position in shares of Salesforce by 9.0% in the 4th quarter. Lebenthal Global Advisors LLC now owns 4,901 shares of the CRM provider’s stock worth $1,639,000 after buying an additional 403 shares in the last quarter. Foundations Investment Advisors LLC grew its stake in Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Finally, Heartland Bank & Trust Co increased its holdings in Salesforce by 36.7% during the 4th quarter. Heartland Bank & Trust Co now owns 2,754 shares of the CRM provider’s stock valued at $921,000 after acquiring an additional 740 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at approximately $1,888,236.38. This represents a 7.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 652 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the sale, the insider now owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,109,169 shares of company stock worth $383,432,020 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Needham & Company LLC increased their price target on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Macquarie reiterated a “neutral” rating and set a $370.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Piper Sandler restated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Price Performance

Shares of NYSE CRM opened at $347.26 on Tuesday. The company has a market capitalization of $332.33 billion, a price-to-earnings ratio of 57.12, a PEG ratio of 3.01 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business has a 50-day moving average of $336.73 and a 200-day moving average of $294.60.

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

Salesforce Dividend Announcement

The company 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. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. Salesforce’s payout ratio is currently 26.32%.

Salesforce 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.