CFO4Life Group LLC Has $1.03 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

CFO4Life Group LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,430 shares of the CRM provider’s stock after selling 179 shares during the quarter. CFO4Life Group LLC’s holdings in Salesforce were worth $1,033,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Graypoint LLC increased its holdings in shares of 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 acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp increased its stake in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after buying an additional 36 shares during the last quarter. Opes Wealth Management LLC lifted its stake in shares of Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its holdings in shares of 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 buying an additional 38 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of CRM traded up $3.43 during mid-day trading on Friday, reaching $254.55. 2,548,978 shares of the stock traded hands, compared to its average volume of 6,909,682. The company has a market cap of $246.66 billion, a price-to-earnings ratio of 45.84, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm has a fifty day moving average price of $256.82 and a 200 day moving average price of $275.90. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to analysts’ expectations of $9.15 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.63%. Salesforce’s payout ratio is presently 28.78%.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total value of $1,061,550.00. Following the completion of the transaction, the insider now directly owns 116,693 shares in the company, valued at $29,494,155.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total value of $1,061,550.00. Following the completion of the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $286.90, for a total transaction of $4,303,500.00. Following the transaction, the chief executive officer now owns 12,512,327 shares in the company, valued at $3,589,786,616.30. The disclosure for this sale can be found here. Insiders sold a total of 439,152 shares of company stock valued at $118,115,911 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. Robert W. Baird dropped their price target on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Thursday, May 30th. Piper Sandler reissued a “neutral” rating and issued a $250.00 price target on shares of Salesforce in a research report on Friday. Canaccord Genuity Group reduced their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Finally, Macquarie dropped their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

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.