Salesforce, Inc. (NYSE:CRM) Shares Acquired by Transcendent Capital Group LLC

Transcendent Capital Group LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 525.9% in the 4th quarter, Holdings Channel reports. The fund owned 1,496 shares of the CRM provider’s stock after acquiring an additional 1,257 shares during the quarter. Transcendent Capital Group LLC’s holdings in Salesforce were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trifecta Capital Advisors LLC raised its holdings in shares of Salesforce by 3.3% in the fourth quarter. Trifecta Capital Advisors LLC now owns 24,071 shares of the CRM provider’s stock worth $8,048,000 after acquiring an additional 771 shares during the last quarter. Millington Financial Advisors LLC increased its holdings in shares of Salesforce by 16.3% during the 4th quarter. Millington Financial Advisors LLC now owns 5,618 shares of the CRM provider’s stock worth $1,906,000 after buying an additional 789 shares during the last quarter. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Salesforce by 0.5% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock worth $2,369,000 after purchasing an additional 35 shares during the period. Prasad Wealth Partners LLC purchased a new stake in Salesforce during the 4th quarter worth $344,000. Finally, BankPlus Trust Department purchased a new position in Salesforce in the 4th quarter worth approximately $2,264,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,102,572 shares of company stock worth $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CRM. Barclays increased their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 price target (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. DA Davidson raised their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Trading Down 0.5 %

Salesforce stock opened at $308.27 on Tuesday. The company has a market capitalization of $295.01 billion, a price-to-earnings ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The business’s fifty day simple moving average is $332.36 and its two-hundred day simple moving average is $306.60. 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 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared 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 dividend yield of 0.52%. 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.