Masso Torrence Wealth Management Inc. Grows Stake in Salesforce, Inc. (NYSE:CRM)

Masso Torrence Wealth Management Inc. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 4.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,380 shares of the CRM provider’s stock after buying an additional 153 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Salesforce were worth $1,130,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the 2nd quarter valued at $33,000. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC grew its holdings in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new position in Salesforce in the third quarter valued at about $53,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $355.79 on Wednesday. The firm has a market capitalization of $340.49 billion, a PE ratio of 58.92, a PEG ratio of 3.01 and a beta of 1.30. The stock’s fifty day moving average is $337.96 and its 200 day moving average is $296.02. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during 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%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.45%. Salesforce’s payout ratio is 26.32%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of recent research reports. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Loop Capital upped their price objective on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,109,169 shares of company stock worth $383,432,020. 3.20% of the stock is currently owned by company insiders.

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.