MONECO Advisors LLC Has $1.53 Million Position in Salesforce, Inc. (NYSE:CRM)

MONECO Advisors LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,563 shares of the CRM provider’s stock after selling 55 shares during the period. MONECO Advisors LLC’s holdings in Salesforce were worth $1,526,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Foundations Investment Advisors LLC grew its position in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new position in Salesforce during the third quarter worth $1,215,000. Prime Capital Investment Advisors LLC grew its holdings in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC increased its stake 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 purchasing an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd raised its holdings in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $309.54 on Monday. The company has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a P/E/G ratio of 2.58 and a beta of 1.31. The business has a fifty day simple moving average of $333.34 and a two-hundred day simple moving average of $306.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 942 shares of Salesforce stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,114 shares of company stock valued at $381,142,656. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CRM shares. BMO Capital Markets reduced their target price on Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup raised their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. DA Davidson upped their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company lifted their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Finally, Piper Sandler set a $405.00 price target on shares of Salesforce in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $375.53.

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.