Allen Capital Group LLC Has $375,000 Stake in Salesforce, Inc. (NYSE:CRM)

Allen Capital Group LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 9.6% in the fourth quarter, Holdings Channel reports. The fund owned 1,120 shares of the CRM provider’s stock after acquiring an additional 98 shares during the period. Allen Capital Group LLC’s holdings in Salesforce were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce during the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC boosted its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce during the third quarter worth about $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were 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 directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,109,169 shares of company stock valued at $383,432,020 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Cfra set a $343.00 target price on Salesforce in a report on Thursday, October 17th. UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Macquarie restated a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Piper Sandler restated an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Performance

CRM stock opened at $354.14 on Thursday. The stock has a 50-day moving average price of $337.96 and a 200-day moving average price of $296.02. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 $338.91 billion, a PE ratio of 58.25, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm 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%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.45%. Salesforce’s dividend payout ratio is currently 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.