Orion Capital Management LLC Has $1.23 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Orion Capital Management LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,670 shares of the CRM provider’s stock after selling 120 shares during the quarter. Orion Capital Management LLC’s holdings in Salesforce were worth $1,229,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Vicus Capital increased its holdings in shares of Salesforce by 153.2% during the 3rd quarter. Vicus Capital now owns 2,575 shares of the CRM provider’s stock worth $522,000 after acquiring an additional 1,558 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Salesforce by 0.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 128,690 shares of the CRM provider’s stock worth $26,096,000 after acquiring an additional 1,066 shares during the last quarter. Sigma Investment Counselors Inc. boosted its stake in Salesforce by 22.3% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 1,223 shares of the CRM provider’s stock valued at $248,000 after purchasing an additional 223 shares during the period. Raymond James & Associates boosted its stake in Salesforce by 3.0% in the 3rd quarter. Raymond James & Associates now owns 2,205,319 shares of the CRM provider’s stock valued at $447,194,000 after purchasing an additional 63,887 shares during the period. Finally, 1834 Investment Advisors Co. boosted its stake in Salesforce by 12.1% in the 3rd quarter. 1834 Investment Advisors Co. now owns 4,075 shares of the CRM provider’s stock valued at $826,000 after purchasing an additional 440 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 1.7 %

Shares of CRM traded up $4.56 during mid-day trading on Wednesday, reaching $273.50. 2,609,913 shares of the company were exchanged, compared to its average volume of 5,593,267. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $265.30 billion, a PE ratio of 63.76, a PEG ratio of 2.12 and a beta of 1.28. The business has a 50 day simple moving average of $295.34 and a two-hundred day simple moving average of $265.65.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company 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 firm’s revenue was up 10.8% compared to the same quarter last year. On average, analysts predict 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 was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s payout ratio is currently 9.52%.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, February 5th. The stock was sold at an average price of $285.82, for a total transaction of $4,287,300.00. Following the sale, the chief executive officer now directly owns 13,581,166 shares in the company, valued at $3,881,768,866.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $288.93, for a total value of $2,889,300.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at $17,455,994.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $285.82, for a total value of $4,287,300.00. Following the completion of the sale, the chief executive officer now owns 13,581,166 shares in the company, valued at $3,881,768,866.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 610,793 shares of company stock worth $179,074,618. 3.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on CRM shares. BMO Capital Markets boosted their price target on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Piper Sandler reiterated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research report on Monday, April 15th. Argus upped their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Citigroup upped their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research report on Wednesday, April 3rd. Nine research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Company 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.