Premier Path Wealth Partners LLC Sells 783 Shares of Salesforce, Inc. (NYSE:CRM)

Premier Path Wealth Partners LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 8.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,856 shares of the CRM provider’s stock after selling 783 shares during the period. Premier Path Wealth Partners LLC’s holdings in Salesforce were worth $2,961,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Veritas Asset Management LLP bought a new stake in Salesforce in the third quarter valued at approximately $733,805,000. KBC Group NV raised its position in shares of Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the period. International Assets Investment Management LLC increased its stake in Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Salesforce by 51.0% in the second quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock valued at $757,632,000 after buying an additional 994,670 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after acquiring an additional 877,495 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRM. DA Davidson lifted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Oppenheimer reiterated an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Bank of America raised their price objective on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Up 1.5 %

NYSE CRM opened at $324.77 on Friday. The stock has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The stock’s fifty day moving average price is $337.25 and its 200-day moving average price is $291.08. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. 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 announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for 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 revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. As a group, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock worth $405,595,158 over the last three months. 3.20% of the stock is currently owned by company insiders.

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.