Fielder Capital Group LLC Buys Shares of 1,069 Salesforce, Inc. (NYSE:CRM)

Fielder Capital Group LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,069 shares of the CRM provider’s stock, valued at approximately $281,000.

Several other institutional investors have also made changes to their positions in the stock. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new position in Salesforce during the fourth quarter valued at about $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce in the fourth quarter valued at $31,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Salesforce in the fourth quarter worth about $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $292.43, for a total transaction of $4,386,450.00. Following the completion of the sale, the chief executive officer now directly owns 13,521,166 shares in the company, valued at approximately $3,953,994,573.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated 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 owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 619,993 shares of company stock valued at $181,241,324 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of CRM traded up $1.97 during midday trading on Monday, reaching $275.63. 3,722,938 shares of the stock were exchanged, compared to its average volume of 5,550,575. The stock’s 50 day simple moving average is $293.74 and its 200 day simple moving average is $267.47. The company has a market cap of $266.81 billion, a P/E ratio of 65.63, a PEG ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $193.68 and a twelve 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 issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Ratings Changes

Several brokerages recently issued reports on CRM. Piper Sandler reissued a “neutral” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. BMO Capital Markets increased their target price on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $350.00 price target on shares of Salesforce in a research report on Wednesday, April 3rd. Finally, StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

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.