Salesforce, Inc. (NYSE:CRM) Shares Acquired by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 4.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,194 shares of the CRM provider’s stock after acquiring an additional 100 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Salesforce were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the 4th quarter valued at approximately $31,000. BKM Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter worth $34,000. Pacifica Partners Inc. increased its position in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the period. Finally, AlphaMark Advisors LLC raised its stake in shares of Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.6 %

Salesforce stock opened at $275.86 on Tuesday. Salesforce, Inc. has a fifty-two week low of $190.76 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s fifty day moving average is $295.69 and its two-hundred day moving average is $265.20. The firm has a market capitalization of $267.58 billion, a price-to-earnings ratio of 65.68, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted 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 in the prior year, the company earned $1.01 EPS. Salesforce’s revenue was up 10.8% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. 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 currently 9.52%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRM. Wedbush lifted their price target on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Argus boosted their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Piper Sandler restated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, April 15th. Robert W. Baird upped their price objective on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Monday, April 15th. 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 a consensus price target of $310.61.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $282.95, for a total transaction of $4,244,250.00. Following the transaction, the chief executive officer now directly owns 13,626,166 shares in the company, valued at $3,855,523,669.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $282.95, for a total value of $4,244,250.00. Following the transaction, the chief executive officer now owns 13,626,166 shares in the company, valued at approximately $3,855,523,669.70. The sale was disclosed in a document filed 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 stock was 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 in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. In the last three months, insiders sold 610,793 shares of company stock worth $179,197,018. 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.