Salesforce, Inc. (NYSE:CRM) Stock Position Raised by Assetmark Inc.

Assetmark Inc. increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 32.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,240 shares of the CRM provider’s stock after acquiring an additional 42,903 shares during the quarter. Assetmark Inc.’s holdings in Salesforce were worth $58,254,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CRM. Triad Wealth Partners LLC acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $565,000. Carrera Capital Advisors boosted its position in Salesforce by 9.7% during the 4th quarter. Carrera Capital Advisors now owns 837 shares of the CRM provider’s stock valued at $280,000 after purchasing an additional 74 shares during the period. Keybank National Association OH grew its stake in Salesforce by 3.9% during the 4th quarter. Keybank National Association OH now owns 34,299 shares of the CRM provider’s stock worth $11,467,000 after buying an additional 1,287 shares during the last quarter. Jag Capital Management LLC increased its position in Salesforce by 2,507.9% in the fourth quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider’s stock worth $7,926,000 after buying an additional 22,797 shares during the period. Finally, Mainstream Capital Management LLC lifted its stake in Salesforce by 0.5% in the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock valued at $2,143,000 after buying an additional 33 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, Director Robin L. Washington acquired 1,695 shares of the company’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $294.61 per share, for a total transaction of $499,363.95. Following the purchase, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This represents a 4.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,793 shares of company stock worth $383,156,227 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 2.0 %

NYSE CRM opened at $287.10 on Wednesday. The firm’s 50 day moving average price is $326.96 and its two-hundred day moving average price is $308.33. The stock has a market cap of $274.76 billion, a price-to-earnings ratio of 47.22, a PEG ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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 business 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 quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRM. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. DA Davidson dropped their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research report on Thursday, February 27th. 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. Finally, Piper Sandler cut their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five 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 data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.