977 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Mosaic Family Wealth Partners LLC

Mosaic Family Wealth Partners LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 977 shares of the CRM provider’s stock, valued at approximately $257,000.

Several other large investors have also recently made changes to their positions in the business. Fairfield Bush & CO. boosted its holdings in Salesforce by 8.7% during the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after acquiring an additional 357 shares during the period. Roundview Capital LLC lifted its position in Salesforce by 18.8% in the first quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after purchasing an additional 3,809 shares during the last quarter. Covestor Ltd boosted its stake in shares of Salesforce by 42.8% during the first quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after purchasing an additional 186 shares during the period. Ergoteles LLC bought a new position in shares of Salesforce in the first quarter worth approximately $455,000. Finally, Mackenzie Financial Corp increased its stake in shares of Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock worth $182,797,000 after buying an additional 151,440 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the sale, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $270.28, for a total value of $2,702,800.00. Following the completion of the transaction, the insider now directly owns 59,861 shares in the company, valued at approximately $16,179,231.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 907,375 shares of company stock worth $262,519,346. Company insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRM. Mizuho reissued a “buy” rating and set a $345.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Oppenheimer increased their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Truist Financial restated a “buy” rating and set a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Bank of America upped their price target on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective (up from $325.00) on shares of Salesforce in a research report on Friday. Nine 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 has a consensus rating of “Moderate Buy” and an average price target of $305.77.

Salesforce Stock Down 0.9 %

Salesforce stock traded down $2.84 during trading hours on Friday, hitting $296.31. The stock had a trading volume of 934,292 shares, compared to its average volume of 5,480,555. The stock’s 50-day moving average price is $298.65 and its 200-day moving average price is $258.37. The stock has a market capitalization of $287.42 billion, a P/E ratio of 70.45, a price-to-earnings-growth ratio of 2.30 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $190.45 and a 12-month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

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.