Marcum Wealth LLC Purchases 208 Shares of Salesforce, Inc. (NYSE:CRM)

Marcum Wealth LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,337 shares of the CRM provider’s stock after purchasing an additional 208 shares during the period. Marcum Wealth LLC’s holdings in Salesforce were worth $1,116,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CRM. Gunderson Capital Management Inc. acquired a new stake in Salesforce during the 4th quarter worth $4,009,000. Traveka Wealth LLC increased its holdings in shares of Salesforce by 15.1% in the fourth quarter. Traveka Wealth LLC now owns 2,297 shares of the CRM provider’s stock worth $768,000 after acquiring an additional 301 shares in the last quarter. Unique Wealth LLC raised its position in shares of Salesforce by 12.4% during the fourth quarter. Unique Wealth LLC now owns 7,839 shares of the CRM provider’s stock worth $2,621,000 after purchasing an additional 867 shares during the period. Marion Wealth Management lifted its holdings in shares of Salesforce by 18.2% during the 4th quarter. Marion Wealth Management now owns 1,070 shares of the CRM provider’s stock valued at $358,000 after purchasing an additional 165 shares in the last quarter. Finally, Parisi Gray Wealth Management grew its position in shares of Salesforce by 11.5% in the 4th quarter. Parisi Gray Wealth Management now owns 1,415 shares of the CRM provider’s stock valued at $473,000 after purchasing an additional 146 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Scotiabank lifted their price target on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Loop Capital upped their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group lifted their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $376.05.

Insider Activity

In related news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,177,617 shares of company stock worth $403,542,975. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of NYSE CRM opened at $319.39 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $305.66 billion, a price-to-earnings ratio of 52.53, a P/E/G ratio of 3.21 and a beta of 1.30. The stock’s fifty day moving average price is $336.25 and its two-hundred day moving average price is $290.19. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the company posted $1.62 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

About Salesforce

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.