Sigma Planning Corp Acquires 617 Shares of Salesforce, Inc. (NYSE:CRM)

Sigma Planning Corp boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,620 shares of the CRM provider’s stock after acquiring an additional 617 shares during the quarter. Sigma Planning Corp’s holdings in Salesforce were worth $8,565,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Callan Capital LLC raised its position in Salesforce by 26.6% during the fourth quarter. Callan Capital LLC now owns 3,508 shares of the CRM provider’s stock worth $1,173,000 after acquiring an additional 738 shares in the last quarter. Prentice Wealth Management LLC raised its position in Salesforce by 3.2% during the fourth quarter. Prentice Wealth Management LLC now owns 2,585 shares of the CRM provider’s stock worth $864,000 after acquiring an additional 79 shares in the last quarter. Variant Private Wealth LLC bought a new stake in Salesforce during the fourth quarter worth $371,000. Leuthold Group LLC bought a new stake in Salesforce during the fourth quarter worth $698,000. Finally, Peregrine Asset Advisers Inc. bought a new stake in Salesforce during the fourth quarter worth $204,000. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,833 shares of company stock valued at $381,389,136 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 2.8 %

Salesforce stock opened at $309.54 on Friday. The firm has a market cap of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $333.34 and a two-hundred day moving average price of $305.25.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 EPS. Equities analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRM shares. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. BMO Capital Markets dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group increased their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $375.53.

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.