Mission Wealth Management LP Acquires 383 Shares of Salesforce, Inc. (NYSE:CRM)

Mission Wealth Management LP boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,262 shares of the CRM provider’s stock after buying an additional 383 shares during the quarter. Mission Wealth Management LP’s holdings in Salesforce were worth $2,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRM. Jackson Creek Investment Advisors LLC grew its position in shares of Salesforce by 35.6% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 2,946 shares of the CRM provider’s stock worth $775,000 after buying an additional 773 shares during the period. Certuity LLC raised its stake in Salesforce by 10.3% during the 4th quarter. Certuity LLC now owns 7,753 shares of the CRM provider’s stock worth $2,040,000 after acquiring an additional 726 shares during the period. Penobscot Investment Management Company Inc. raised its stake in Salesforce by 3.5% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 7,805 shares of the CRM provider’s stock worth $2,054,000 after acquiring an additional 264 shares during the period. Duff & Phelps Investment Management Co. raised its stake in Salesforce by 1.0% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 10,873 shares of the CRM provider’s stock worth $2,861,000 after acquiring an additional 110 shares during the period. Finally, Field & Main Bank grew its holdings in Salesforce by 2.9% during the 4th quarter. Field & Main Bank now owns 8,022 shares of the CRM provider’s stock valued at $2,111,000 after buying an additional 225 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 610,793 shares of company stock worth $179,074,618 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. UBS Group raised 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. KeyCorp initiated coverage on Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. BMO Capital Markets lifted their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Bank of America lifted their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Evercore ISI boosted their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Trading Down 2.5 %

Shares of NYSE:CRM opened at $268.94 on Wednesday. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71. The firm has a market capitalization of $260.87 billion, a price-to-earnings ratio of 64.03, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business’s 50 day moving average price is $295.34 and its 200-day moving average price is $265.65.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm posted $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

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.