Parisi Gray Wealth Management Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Parisi Gray Wealth Management boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,415 shares of the CRM provider’s stock after purchasing an additional 146 shares during the quarter. Parisi Gray Wealth Management’s holdings in Salesforce were worth $473,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Miracle Mile Advisors LLC raised its position in shares of Salesforce by 0.7% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,342 shares of the CRM provider’s stock valued at $6,466,000 after buying an additional 142 shares in the last quarter. Northstar Advisory Group LLC increased its stake in Salesforce by 7.2% during the fourth quarter. Northstar Advisory Group LLC now owns 10,001 shares of the CRM provider’s stock worth $3,344,000 after acquiring an additional 673 shares during the last quarter. Sunflower Bank N.A. raised its position in Salesforce by 3.5% during the fourth quarter. Sunflower Bank N.A. now owns 2,871 shares of the CRM provider’s stock valued at $960,000 after purchasing an additional 96 shares during the period. Elevated Capital Advisors LLC lifted its stake in shares of Salesforce by 29.5% in the 4th quarter. Elevated Capital Advisors LLC now owns 2,472 shares of the CRM provider’s stock valued at $827,000 after purchasing an additional 563 shares during the last quarter. Finally, Friedenthal Financial purchased a new position in shares of Salesforce in the 4th quarter worth approximately $55,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.5 %

CRM stock opened at $319.39 on Tuesday. The stock has a market capitalization of $305.66 billion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $336.25 and a 200 day moving average of $290.19.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 earnings per share. Sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. BMO Capital Markets raised their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Jefferies Financial Group upped their price target on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have assigned 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 at Salesforce

In other news, COO Brian Millham sold 6,161 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. Following the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at $280,767.75. This represents a 86.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,617 shares of company stock worth $403,542,975 over the last quarter. Insiders own 3.20% of the company’s stock.

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.