Noble Wealth Management PBC Acquires Shares of 218 Salesforce, Inc. (NYSE:CRM)

Noble Wealth Management PBC bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 218 shares of the CRM provider’s stock, valued at approximately $73,000.

Other institutional investors have also modified their holdings of the company. Nvest Financial LLC grew its stake in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares in the last quarter. Sachetta LLC increased its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC raised its position in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were 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 directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRM. DA Davidson decreased their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research report on Thursday. Macquarie decreased their price objective on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets reduced their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus lowered their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $365.32.

Salesforce Stock Performance

CRM stock opened at $297.63 on Friday. The company has a 50-day simple moving average of $329.11 and a 200 day simple moving average of $307.58. The company has a market capitalization of $284.83 billion, a P/E ratio of 48.95, a PEG ratio of 2.58 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

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 analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. Sell-side 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. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

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.