Salesforce, Inc. (NYSE:CRM) Shares Sold by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. trimmed its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,858 shares of the CRM provider’s stock after selling 223 shares during the period. Etesian Wealth Advisors Inc.’s holdings in Salesforce were worth $1,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Norges Bank acquired a new stake in Salesforce during the fourth quarter worth about $1,420,381,000. Moneta Group Investment Advisors LLC grew its holdings in Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after purchasing an additional 10,252,257 shares during the period. Starboard Value LP acquired a new stake in Salesforce in the fourth quarter valued at approximately $401,215,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Salesforce in the second quarter valued at approximately $352,498,000. Finally, Barclays PLC lifted its position in shares of Salesforce by 99.7% in the second quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider’s stock valued at $675,370,000 after acquiring an additional 1,595,733 shares in the last quarter. 77.52% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 0.2 %

Shares of NYSE CRM opened at $307.77 on Friday. The company has a market capitalization of $298.54 billion, a price-to-earnings ratio of 73.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50-day moving average of $292.17 and a two-hundred day moving average of $250.17. Salesforce, Inc. has a 1 year low of $185.58 and a 1 year high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. On average, analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Analysts Set New Price Targets

CRM has been the topic of several research reports. BMO Capital Markets raised their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Piper Sandler reiterated a “neutral” rating and set a $285.00 price objective on shares of Salesforce in a research report on Wednesday, February 28th. Mizuho reiterated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Finally, Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $290.00 to $350.00 in a research report on Thursday, December 21st. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.32.

Read Our Latest Stock Report on Salesforce

Insider Activity

In other news, COO Brian Millham sold 14,516 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $4,490,089.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 14,516 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $4,490,089.12. The disclosure for this sale can be found here. In the last three months, insiders sold 1,169,296 shares of company stock valued at $326,477,726. Insiders own 3.70% of the company’s stock.

Salesforce Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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