Brighton Jones LLC Has $7.60 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Brighton Jones LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,871 shares of the CRM provider’s stock after buying an additional 1,309 shares during the quarter. Brighton Jones LLC’s holdings in Salesforce were worth $7,597,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Graypoint LLC lifted its position in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares during the last quarter. Chase Investment Counsel Corp grew its position in Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC increased its stake in Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares during the last quarter. Prentice Wealth Management LLC raised its position in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the period. Finally, MV Capital Management Inc. boosted its holdings in shares of Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CRM has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Jefferies Financial Group boosted their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. Finally, Wedbush upped their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Performance

CRM traded down $6.80 during trading on Tuesday, hitting $268.94. 5,211,266 shares of the stock were exchanged, compared to its average volume of 5,632,453. The firm has a market capitalization of $260.87 billion, a P/E ratio of 65.03, a PEG ratio of 2.11 and a beta of 1.28. The stock has a fifty day moving average price of $295.69 and a two-hundred day moving average price of $265.20. 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, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insider Activity at Salesforce

In other news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the completion of the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 610,793 shares of company stock valued at $179,197,018 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

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.