Perissos Private Wealth Management LLC Invests $242,000 in Salesforce, Inc. (NYSE:CRM)

Perissos Private Wealth Management LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 725 shares of the CRM provider’s stock, valued at approximately $242,000.

A number of other hedge funds have also made changes to their positions in CRM. Veritas Asset Management LLP bought a new position in Salesforce during the third quarter valued at approximately $733,805,000. Jennison Associates LLC raised its position in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares in the last quarter. Swedbank AB raised its position in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares in the last quarter. KBC Group NV raised its position in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 0.8 %

CRM opened at $324.50 on Wednesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock’s fifty day simple moving average is $338.89 and its 200 day simple moving average is $301.53. 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 stock has a market cap of $310.55 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company earned $1.62 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. Bank of America lifted their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price target on shares of Salesforce in a research report on Thursday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Robert W. Baird lifted 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.