Twin Peaks Wealth Advisors LLC Invests $1.41 Million in Salesforce, Inc. (NYSE:CRM)
Twin Peaks Wealth Advisors LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,338 shares of the CRM provider’s stock, valued at approximately $1,405,000. Salesforce accounts for about 0.9% of Twin Peaks Wealth Advisors LLC’s portfolio, making the stock its 29th largest position.
Other institutional investors have also recently added to or reduced their stakes in the company. Prentice Wealth Management LLC boosted its position in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares during the last quarter. Legal Advantage Investments Inc. boosted its position in Salesforce by 0.7% in the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock valued at $1,466,000 after buying an additional 40 shares during the last quarter. Westside Investment Management Inc. boosted its position in Salesforce by 0.9% in the 4th quarter. Westside Investment Management Inc. now owns 4,712 shares of the CRM provider’s stock valued at $1,240,000 after buying an additional 42 shares during the last quarter. Enterprise Bank & Trust Co boosted its position in Salesforce by 0.4% in the 4th quarter. Enterprise Bank & Trust Co now owns 12,133 shares of the CRM provider’s stock valued at $3,193,000 after buying an additional 44 shares during the last quarter. Finally, Fort Point Capital Partners LLC boosted its position in Salesforce by 1.5% in the 3rd quarter. Fort Point Capital Partners LLC now owns 3,298 shares of the CRM provider’s stock valued at $669,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.
Insider Activity
In other news, CEO Marc Benioff sold 265,000 shares of Salesforce stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $266.15, for a total transaction of $70,529,750.00. Following the sale, the chief executive officer now directly owns 14,206,166 shares in the company, valued at approximately $3,780,971,080.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 265,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $266.15, for a total value of $70,529,750.00. Following the transaction, the chief executive officer now directly owns 14,206,166 shares in the company, valued at $3,780,971,080.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,159,307 shares of company stock worth $324,535,513. Corporate insiders own 3.70% of the company’s stock.
Analyst Ratings Changes
CRM has been the topic of several research analyst reports. Raymond James increased their price target on shares of Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. Wedbush raised their price target on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Mizuho reiterated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Stifel Nicolaus raised their price objective on shares of Salesforce from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $304.32.
Salesforce Stock Performance
NYSE:CRM opened at $305.84 on Wednesday. The firm’s 50-day moving average is $292.85 and its 200-day moving average is $251.18. Salesforce, Inc. has a 52-week low of $187.31 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $296.66 billion, a price-to-earnings ratio of 72.82, a PEG ratio of 2.35 and a beta of 1.28.
Salesforce (NYSE:CRM – Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.
Salesforce Dividend Announcement
The firm also recently announced 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. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.
About Salesforce
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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