Mayflower Financial Advisors LLC Increases Position in Salesforce, Inc. (NYSE:CRM)

Mayflower Financial Advisors LLC raised its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,411 shares of the CRM provider’s stock after purchasing an additional 41 shares during the period. Mayflower Financial Advisors LLC’s holdings in Salesforce were worth $898,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in Salesforce by 0.3% in the 2nd quarter. State Street Corp now owns 45,653,307 shares of the CRM provider’s stock worth $9,644,718,000 after buying an additional 143,962 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock worth $2,519,719,000 after acquiring an additional 149,012 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Salesforce by 1.1% in the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after purchasing an additional 121,436 shares in the last quarter. Norges Bank purchased a new position in Salesforce in the 4th quarter worth $1,420,381,000. Finally, Moneta Group Investment Advisors LLC lifted its stake 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 worth $1,360,428,000 after purchasing an additional 10,252,257 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 2,536 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $260.54, for a total value of $660,729.44. Following the transaction, the chief financial officer now directly owns 37,979 shares in the company, valued at $9,895,048.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Amy E. Weaver sold 2,536 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $260.54, for a total value of $660,729.44. Following the completion of the sale, the chief financial officer now owns 37,979 shares in the company, valued at $9,895,048.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. In the last three months, insiders sold 901,258 shares of company stock valued at $256,569,563. Insiders own 3.70% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $301.18 on Monday. Salesforce, Inc. has a 52 week low of $187.31 and a 52 week high of $318.71. The firm has a market capitalization of $292.14 billion, a P/E ratio of 71.71, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The company has a fifty day simple moving average of $295.12 and a two-hundred day simple moving average of $253.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRMGet Free Report) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for 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%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. Analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s dividend payout ratio is 9.52%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRM shares. Piper Sandler reissued a “neutral” rating and issued a $285.00 target price on shares of Salesforce in a research note on Wednesday, February 28th. Robert W. Baird increased their price objective on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and issued a $345.00 target price (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Finally, Morgan Stanley raised Salesforce from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $290.00 to $350.00 in a research report on Thursday, December 21st. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $304.32.

Check Out Our Latest Stock Report on Salesforce

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.

Featured Stories

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRMFree Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

Receive News & Ratings for Salesforce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Salesforce and related companies with MarketBeat.com's FREE daily email newsletter.