Mainsail Asset Management LLC Acquires New Holdings in Salesforce, Inc. (NYSE:CRM)

Mainsail Asset Management LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 604 shares of the CRM provider’s stock, valued at approximately $202,000.

Several other large investors have also recently modified their holdings of CRM. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce in the fourth quarter valued at $30,000. Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter valued at about $31,000. Collier Financial bought a new position in shares of Salesforce during the 4th quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.3 %

Shares of CRM stock opened at $325.49 on Monday. The stock has a market capitalization of $311.49 billion, a price-to-earnings ratio of 53.53, a PEG ratio of 2.66 and a beta of 1.31. The company’s fifty day simple moving average is $336.56 and its two-hundred day simple moving average is $303.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent research reports. Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 6th. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Truist Financial reissued a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.