Financial Life Planners Takes Position in Salesforce, Inc. (NYSE:CRM)

Financial Life Planners acquired a new position in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,906 shares of the CRM provider’s stock, valued at approximately $638,000. Salesforce makes up about 0.5% of Financial Life Planners’ holdings, making the stock its 21st largest holding.

A number of other large investors also recently bought and sold shares of CRM. Jennison Associates LLC increased its holdings in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. One Wealth Advisors LLC boosted its position in Salesforce by 3.2% during the fourth quarter. One Wealth Advisors LLC now owns 1,786 shares of the CRM provider’s stock valued at $597,000 after purchasing an additional 56 shares in the last quarter. Muirfield Wealth Advisors LLC grew its stake in Salesforce by 2.3% in the fourth quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider’s stock valued at $487,000 after purchasing an additional 33 shares during the last quarter. Lazari Capital Management Inc. lifted its position in shares of Salesforce by 1.2% during the fourth quarter. Lazari Capital Management Inc. now owns 5,506 shares of the CRM provider’s stock valued at $1,841,000 after buying an additional 63 shares during the last quarter. Finally, Resonant Capital Advisors LLC boosted its holdings in shares of Salesforce by 10.5% in the 4th quarter. Resonant Capital Advisors LLC now owns 7,959 shares of the CRM provider’s stock valued at $2,664,000 after buying an additional 758 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,669 shares of company stock worth $383,286,905. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.5 %

Shares of CRM opened at $341.80 on Monday. The firm has a market cap of $327.10 billion, a P/E ratio of 56.22, a PEG ratio of 3.09 and a beta of 1.31. 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 $338.67 and its two-hundred day moving average is $297.99. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly 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 company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid 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%.

Analysts Set New Price Targets

CRM has been the subject of a number of analyst reports. Needham & Company LLC increased their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. The Goldman Sachs Group raised their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.