Ameliora Wealth Management Ltd. Purchases New Holdings in Salesforce, Inc. (NYSE:CRM)

Ameliora Wealth Management Ltd. acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 200 shares of the CRM provider’s stock, valued at approximately $67,000.

Several other large investors also recently added to or reduced their stakes in CRM. RBA Wealth Management LLC boosted its holdings in shares of Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after purchasing an additional 574 shares during the period. Hoxton Planning & Management LLC purchased a new stake in Salesforce in the 3rd quarter worth approximately $222,000. First PREMIER Bank grew its holdings in shares of Salesforce by 634.9% during the 3rd quarter. First PREMIER Bank now owns 463 shares of the CRM provider’s stock valued at $127,000 after acquiring an additional 400 shares in the last quarter. CWM LLC increased its stake in shares of Salesforce by 6.6% in the third quarter. CWM LLC now owns 77,140 shares of the CRM provider’s stock worth $21,114,000 after acquiring an additional 4,744 shares during the last quarter. Finally, Marcum Wealth LLC raised its holdings in shares of Salesforce by 3.8% during the third quarter. Marcum Wealth LLC now owns 3,129 shares of the CRM provider’s stock worth $856,000 after acquiring an additional 114 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on CRM shares. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Scotiabank increased their price target on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. UBS Group lifted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada increased their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock worth $384,366,700. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 5.0 %

CRM stock opened at $330.52 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $316.31 billion, a P/E ratio of 54.36, a P/E/G ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business’s 50 day moving average is $339.04 and its 200-day moving average is $299.65.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

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.