Barlow Wealth Partners Inc. Buys Shares of 4,458 Salesforce, Inc. (NYSE:CRM)

Barlow Wealth Partners Inc. purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,458 shares of the CRM provider’s stock, valued at approximately $1,432,000.

A number of other large investors have also made changes to their positions in the stock. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter worth approximately $33,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its holdings in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Salesforce during the third quarter worth $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.7 %

Shares of NYSE CRM opened at $326.85 on Wednesday. The firm has a market cap of $312.79 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 2.93 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year 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. The stock’s 50-day simple moving average is $336.97 and its 200-day simple moving average is $292.47.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Buying and Selling

In related news, COO Brian Millham sold 969 shares of Salesforce stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s 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 owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,172,167 shares of company stock valued at $402,223,235. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several research reports. Robert W. Baird lifted their price target on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price target on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. Finally, Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $377.63.

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.