Kelleher Financial Advisors Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Kelleher Financial Advisors purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 677 shares of the CRM provider’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Nabity Jensen Investment Management Inc acquired a new position in shares of Salesforce in the third quarter worth about $1,215,000. Prime Capital Investment Advisors LLC raised its position in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC raised its position in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. AIA Group Ltd grew its stake in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research note on Friday, December 13th. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Needham & Company LLC increased their price target on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Finally, Macquarie reissued a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,171,198 shares of company stock worth $401,945,558. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

Salesforce stock opened at $332.67 on Thursday. The firm has a fifty day moving average of $336.68 and a 200-day moving average of $292.92. The firm has a market capitalization of $318.37 billion, a P/E ratio of 54.72, a PEG ratio of 2.93 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.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s payout ratio is currently 26.32%.

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.