New Republic Capital LLC Has $652,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

New Republic Capital LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,949 shares of the CRM provider’s stock after acquiring an additional 265 shares during the period. New Republic Capital LLC’s holdings in Salesforce were worth $652,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. RBA Wealth Management LLC raised its stake in Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after acquiring an additional 574 shares during the period. Sound Income Strategies LLC lifted its position in Salesforce by 20.3% during the third quarter. Sound Income Strategies LLC now owns 639 shares of the CRM provider’s stock worth $175,000 after purchasing an additional 108 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in Salesforce by 155.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 116,004 shares of the CRM provider’s stock worth $31,751,000 after buying an additional 70,580 shares in the last quarter. Thomasville National Bank raised its position in shares of Salesforce by 1.4% in the 3rd quarter. Thomasville National Bank now owns 101,071 shares of the CRM provider’s stock valued at $27,664,000 after buying an additional 1,347 shares in the last quarter. Finally, Paladin Wealth LLC bought a new stake in shares of Salesforce during the 3rd quarter worth approximately $159,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Shares of CRM opened at $326.95 on Tuesday. The firm has a market capitalization of $312.89 billion, a P/E ratio of 53.77, a P/E/G ratio of 2.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50 day moving average price of $338.97 and a two-hundred day moving average price of $301.03.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the firm earned $1.62 earnings per share. Salesforce’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CRM shares. DA Davidson boosted their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Piper Sandler reiterated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group lifted their price target on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. 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 given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.