Golden State Equity Partners Has $5.78 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Golden State Equity Partners lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,962 shares of the CRM provider’s stock after selling 203 shares during the quarter. Salesforce accounts for approximately 1.4% of Golden State Equity Partners’ investment portfolio, making the stock its 8th biggest holding. Golden State Equity Partners’ holdings in Salesforce were worth $5,779,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Impact Partnership Wealth LLC boosted its position in Salesforce by 226.5% during the third quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock valued at $65,000 after purchasing an additional 222 shares during the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Salesforce by 25.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 4,411 shares of the CRM provider’s stock valued at $894,000 after buying an additional 901 shares during the last quarter. Capital Asset Advisory Services LLC acquired a new position in Salesforce during the third quarter worth $226,000. Coastline Trust Co raised its position in Salesforce by 11.6% during the third quarter. Coastline Trust Co now owns 4,964 shares of the CRM provider’s stock worth $1,007,000 after acquiring an additional 516 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new stake in Salesforce in the third quarter valued at $293,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM opened at $274.29 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The firm has a market cap of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The firm’s fifty day moving average is $295.97 and its 200-day moving average is $264.30.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 EPS. Sell-side analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. UBS Group upped their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Wedbush raised their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Oppenheimer boosted their price target on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,656,166 shares in the company, valued at $3,892,690,118.30. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the sale, the chief executive officer now directly owns 13,656,166 shares of the company’s stock, valued at approximately $3,892,690,118.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 620,793 shares of company stock worth $182,177,918. Company insiders own 3.70% 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.