Conscious Wealth Investments LLC Buys 62 Shares of Salesforce, Inc. (NYSE:CRM)

Conscious Wealth Investments LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 10,108 shares of the CRM provider’s stock after buying an additional 62 shares during the period. Salesforce accounts for about 2.2% of Conscious Wealth Investments LLC’s investment portfolio, making the stock its 21st largest holding. Conscious Wealth Investments LLC’s holdings in Salesforce were worth $3,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC raised its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after acquiring an additional 314,530 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after purchasing an additional 96,381 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were 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 directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,114 shares of company stock valued at $381,142,656 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM opened at $309.54 on Monday. The company has a fifty day simple moving average of $333.34 and a 200 day simple moving average of $306.18. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $296.23 billion, a P/E ratio of 50.91, a P/E/G ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last released 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

CRM has been the subject of several analyst reports. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Scotiabank boosted their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

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.