Great Valley Advisor Group Inc. Has $8.56 Million Position in Salesforce, Inc. (NYSE:CRM)

Great Valley Advisor Group Inc. boosted its position in Salesforce, Inc. (NYSE:CRM) by 35.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,510 shares of the CRM provider’s stock after purchasing an additional 8,446 shares during the period. Great Valley Advisor Group Inc.’s holdings in Salesforce were worth $8,555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Cerity Partners LLC increased its stake in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares during the period. International Assets Investment Management LLC increased its stake in shares of Salesforce by 23,653.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after buying an additional 1,400,300 shares during the period. Lone Pine Capital LLC increased its stake in shares of Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after buying an additional 804,634 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Salesforce by 330.0% in the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after buying an additional 718,245 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $114,521,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 610,793 shares of company stock worth $179,074,618. 3.70% of the stock is owned by company insiders.

Salesforce Stock Performance

CRM stock traded down $0.25 during midday trading on Wednesday, hitting $268.69. The company’s stock had a trading volume of 3,760,908 shares, compared to its average volume of 5,610,192. The stock’s 50-day moving average price is $295.34 and its 200 day moving average price is $265.65. 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. The stock has a market cap of $260.63 billion, a price-to-earnings ratio of 63.76, a PEG ratio of 2.12 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. Salesforce’s payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRM shares. Truist Financial reiterated a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. BMO Capital Markets lifted their target price on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. UBS Group lifted their target price on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Wolfe Research reiterated an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Finally, Oppenheimer raised their price objective on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

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.