Klingman & Associates LLC Purchases 77 Shares of Salesforce, Inc. (NYSE:CRM)

Klingman & Associates LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,855 shares of the CRM provider’s stock after purchasing an additional 77 shares during the period. Klingman & Associates LLC’s holdings in Salesforce were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its holdings in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new stake in Salesforce in the third quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC boosted its holdings in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares during the last quarter. Aljian Capital Management LLC boosted its holdings in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd boosted its holdings in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

CRM stock opened at $328.62 on Wednesday. The company has a market capitalization of $314.49 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business has a 50-day simple moving average of $335.64 and a two-hundred day simple moving average of $304.52.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the firm posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is presently 26.32%.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Scotiabank upped their target price on Salesforce from $425.00 to $440.00 and gave the company 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 target price on the stock in a report on Friday, December 13th. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America upped their target price on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 in the last 90 days. Insiders own 3.20% of the company’s stock.

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.