Kieckhefer Group LLC Invests $60,000 in Salesforce, Inc. (NYSE:CRM)

Kieckhefer Group LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 180 shares of the CRM provider’s stock, valued at approximately $60,000.

A number of other large investors have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter valued at $27,000. Clear Investment Research LLC lifted its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter worth approximately $33,000. Godsey & Gibb Inc. raised its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Finally, Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CRM shares. TD Cowen lifted their price objective on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Loop Capital upped their price target on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Bank of America upped their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Insider Buying and Selling

In related news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the transaction, the insider now owns 118,514 shares in the company, valued at $34,353,653.18. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,181,817 shares of company stock worth $404,760,429. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock traded up $0.12 during mid-day trading on Monday, reaching $317.97. 1,368,472 shares of the company’s stock were exchanged, compared to its average volume of 4,407,439. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock’s 50 day moving average is $335.82 and its 200 day moving average is $289.73. The company has a market cap of $304.30 billion, a price-to-earnings ratio of 52.30, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.62 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.