Masso Torrence Wealth Management Inc. Has $1.13 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Masso Torrence Wealth Management Inc. grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,380 shares of the CRM provider’s stock after purchasing an additional 153 shares during the period. Masso Torrence Wealth Management Inc.’s holdings in Salesforce were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EP Wealth Advisors LLC raised its stake in shares of Salesforce by 13.5% in the second quarter. EP Wealth Advisors LLC now owns 30,031 shares of the CRM provider’s stock worth $7,721,000 after purchasing an additional 3,580 shares during the last quarter. Truist Financial Corp raised its stake in shares of Salesforce by 0.7% during the 2nd quarter. Truist Financial Corp now owns 410,251 shares of the CRM provider’s stock worth $105,476,000 after purchasing an additional 2,897 shares during the period. Advisory Alpha LLC boosted its holdings in shares of Salesforce by 32.1% in the 2nd quarter. Advisory Alpha LLC now owns 1,844 shares of the CRM provider’s stock worth $474,000 after buying an additional 448 shares during the last quarter. Ted Buchan & Co bought a new position in Salesforce during the second quarter valued at about $871,000. Finally, Granite Bay Wealth Management LLC bought a new stake in Salesforce in the second quarter worth about $8,041,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of research reports. Wells Fargo & Company increased their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Loop Capital boosted their target price on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Macquarie reiterated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. DA Davidson boosted their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Price Performance

Shares of Salesforce stock opened at $355.79 on Wednesday. The company has a fifty day moving average of $337.96 and a 200-day moving average of $296.02. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market capitalization of $340.49 billion, a price-to-earnings ratio of 58.92, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.

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 the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. During the same quarter in the prior year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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

Insiders Place Their Bets

In related news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,109,169 shares of company stock worth $383,432,020. 3.20% of the stock is currently owned by company insiders.

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.