Fairvoy Private Wealth LLC Purchases New Stake in Salesforce, Inc. (NYSE:CRM)

Fairvoy Private Wealth LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,943 shares of the CRM provider’s stock, valued at approximately $984,000.

A number of other hedge funds have also made changes to their positions in the business. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at $27,000. Godsey & Gibb Inc. grew its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its holdings in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Friedenthal Financial acquired a new position in Salesforce during the 4th quarter worth approximately $55,000. Finally, Rosenberg Matthew Hamilton boosted its holdings in Salesforce by 88.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock worth $59,000 after acquiring an additional 83 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $330.52 on Friday. The stock has a market cap of $316.31 billion, a P/E ratio of 54.36, a P/E/G ratio of 3.09 and a beta of 1.31. The firm’s 50-day simple moving average is $339.04 and its 200 day simple moving average is $299.65. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two 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 released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. Equities analysts expect 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. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. UBS Group lifted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Robert W. Baird upped their price objective on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Royal Bank of Canada increased their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity

In related news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,111,420 shares of company stock worth $384,366,700. Corporate insiders own 3.20% of the company’s stock.

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.