EdgeRock Capital LLC Invests $143,000 in Salesforce, Inc. (NYSE:CRM)

EdgeRock Capital LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 500 shares of the CRM provider’s stock, valued at approximately $143,000.

Several other large investors also recently modified their holdings of the stock. Graypoint LLC lifted its position in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after buying an additional 36 shares during the last quarter. Chase Investment Counsel Corp lifted its position in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after buying an additional 36 shares during the last quarter. Opes Wealth Management LLC lifted its position in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after buying an additional 37 shares during the last quarter. Prentice Wealth Management LLC lifted its position in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the last quarter. Finally, MV Capital Management Inc. lifted its position in shares of Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after buying an additional 39 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Monday, April 15th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Truist Financial reissued a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Mizuho reissued a “buy” rating and issued a $345.00 price target (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, Citigroup increased their price target on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Nine equities 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’s stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $288.30, for a total value of $4,324,500.00. Following the sale, the chief executive officer now directly owns 13,551,166 shares in the company, valued at $3,906,801,157.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $288.30, for a total value of $4,324,500.00. Following the completion of the transaction, the chief executive officer now directly owns 13,551,166 shares in the company, valued at $3,906,801,157.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The disclosure for this sale can be found here. Insiders have sold a total of 634,993 shares of company stock worth $185,373,074 over the last ninety days. 3.70% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Salesforce stock traded up $1.58 during mid-day trading on Tuesday, reaching $277.21. 3,507,109 shares of the company’s stock were exchanged, compared to its average volume of 5,527,244. The business’s fifty day simple moving average is $293.29 and its 200 day simple moving average is $267.99. The firm has a market capitalization of $268.34 billion, a PE ratio of 66.00, a P/E/G ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. 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:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS 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%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. On average, sell-side analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

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 0.58%. Salesforce’s payout ratio is presently 9.52%.

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.