Salesforce, Inc. (NYSE:CRM) Shares Purchased by First Pacific Financial

First Pacific Financial raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,749 shares of the CRM provider’s stock after acquiring an additional 77 shares during the period. Salesforce makes up 0.5% of First Pacific Financial’s portfolio, making the stock its 27th biggest position. First Pacific Financial’s holdings in Salesforce were worth $2,256,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the second quarter valued at about $33,000. Godsey & Gibb Inc. raised its position in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Salesforce in the third quarter worth about $53,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE CRM opened at $320.99 on Friday. The business’s fifty day moving average price is $337.05 and its two-hundred day moving average price is $290.87. The firm has a market capitalization of $307.18 billion, a PE ratio of 52.79, a P/E/G ratio of 2.87 and a beta of 1.30. 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, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

Several research firms recently commented on CRM. Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. BMO Capital Markets upped their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction that occurred on 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 trade represents a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Company insiders own 3.20% of the company’s stock.

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.