D.B. Root & Company LLC Has $332,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

D.B. Root & Company LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 34.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,263 shares of the CRM provider’s stock after selling 672 shares during the period. D.B. Root & Company LLC’s holdings in Salesforce were worth $332,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Union Savings Bank acquired a new position in shares of Salesforce during the second quarter valued at about $27,000. Pacifica Partners Inc. boosted its holdings in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $34,000. GHP Investment Advisors Inc. raised its position in shares of Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares during the period. Finally, Live Oak Investment Partners acquired a new stake in Salesforce in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of several recent research reports. KeyCorp began coverage on shares of Salesforce in a research report on Thursday. They set a “sector weight” rating for the company. Evercore ISI increased their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Wells Fargo & Company increased their price target on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $285.00 price objective on shares of Salesforce in a report on Wednesday, February 28th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.32.

Get Our Latest Stock Analysis on CRM

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at approximately $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $265.70, for a total transaction of $2,657,000.00. Following the completion of the sale, the insider now owns 59,861 shares of the company’s stock, valued at $15,905,067.70. The disclosure for this sale can be found here. Insiders have sold 1,169,296 shares of company stock worth $326,477,726 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Down 0.2 %

CRM opened at $307.77 on Monday. The firm has a market capitalization of $298.54 billion, a P/E ratio of 73.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. Salesforce, Inc. has a one year low of $185.58 and a one year high of $318.71. The company has a fifty day moving average price of $292.17 and a 200-day moving average price of $250.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRMGet Free Report) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. Equities research analysts expect 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. Investors of record on Thursday, March 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. Salesforce’s dividend payout ratio is presently 9.52%.

About Salesforce

(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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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