Rooted Wealth Advisors Inc. Acquires 256 Shares of Salesforce, Inc. (NYSE:CRM)

Rooted Wealth Advisors Inc. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 34.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 992 shares of the CRM provider’s stock after buying an additional 256 shares during the quarter. Rooted Wealth Advisors Inc.’s holdings in Salesforce were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CRM. Veritas Asset Management LLP purchased a new position in shares of Salesforce in the 3rd quarter worth approximately $733,805,000. Jennison Associates LLC lifted its position in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after buying an additional 1,530,572 shares during the last quarter. Swedbank AB boosted its stake in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after buying an additional 1,219,254 shares during the period. KBC Group NV increased its position in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 in the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRM shares. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $400.00 target price on shares of Salesforce in a research report on Thursday, February 6th. Piper Sandler reiterated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim lowered Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a research note on Monday, January 6th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Price Performance

Shares of CRM opened at $330.19 on Friday. The company has a 50 day moving average of $337.91 and a two-hundred day moving average of $302.13. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market cap of $315.99 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business 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. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is currently 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.