Soltis Investment Advisors LLC Buys 21,612 Shares of Salesforce, Inc. (NYSE:CRM)
Soltis Investment Advisors LLC grew its stake in Salesforce, Inc. (NYSE:CRM – Free Report) by 824.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,233 shares of the CRM provider’s stock after purchasing an additional 21,612 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Salesforce were worth $6,377,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Pacifica Partners Inc. increased its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter worth about $34,000. GHP Investment Advisors Inc. increased its stake in shares of Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after acquiring an additional 63 shares in the last quarter. Live Oak Investment Partners bought a new position in shares of Salesforce in the 4th quarter worth about $36,000. Finally, AlphaMark Advisors LLC increased its stake in shares of Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.
Insider Activity
In other news, COO Brian Millham sold 293,965 shares of Salesforce stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total value of $82,310,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 7,074 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the transaction, the chief financial officer now directly owns 38,993 shares of the company’s stock, valued at $11,074,012. The disclosure for this sale can be found here. Insiders have sold a total of 918,175 shares of company stock worth $264,814,646 over the last quarter. Insiders own 3.70% of the company’s stock.
Salesforce Stock Performance
NYSE CRM traded up $0.64 on Tuesday, reaching $302.37. 2,990,297 shares of the stock were exchanged, compared to its average volume of 5,614,493. Salesforce, Inc. has a one year low of $187.31 and a one year high of $318.71. The firm has a market capitalization of $293.30 billion, a PE ratio of 72.01, a PEG ratio of 2.32 and a beta of 1.28. The company’s 50-day simple moving average is $297.68 and its two-hundred day simple moving average is $257.11. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the business earned $1.01 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.
Salesforce Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Robert W. Baird increased their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. KeyCorp assumed coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating on the stock. Truist Financial reissued a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. BMO Capital Markets increased their price objective on shares of Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada increased their price objective on shares of Salesforce from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $304.97.
View Our Latest Report on Salesforce
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.
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