Marietta Wealth Management LLC Purchases 310 Shares of Salesforce, Inc. (NYSE:CRM)

Marietta Wealth Management LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,581 shares of the CRM provider’s stock after acquiring an additional 310 shares during the quarter. Salesforce accounts for about 1.2% of Marietta Wealth Management LLC’s holdings, making the stock its 29th largest position. Marietta Wealth Management LLC’s holdings in Salesforce were worth $8,218,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Foundations Investment Advisors LLC lifted its stake in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce during the 3rd quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC boosted its stake in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares in the last quarter. Aljian Capital Management LLC grew its position in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. Finally, AIA Group Ltd grew its position in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the transaction, the insider now directly owns 119,402 shares in the company, valued at approximately $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 708 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the sale, the chief operating officer now owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. This represents a 36.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,669 shares of company stock worth $383,286,905. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $341.80 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $327.10 billion, a PE ratio of 56.22, a P/E/G ratio of 3.20 and a beta of 1.30. The stock has a 50 day simple moving average of $338.67 and a 200 day simple moving average of $297.37. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CRM shares. Oppenheimer restated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday, January 6th. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.