Brighton Jones LLC Buys 3,102 Shares of Salesforce, Inc. (NYSE:CRM)

Brighton Jones LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 13.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,668 shares of the CRM provider’s stock after acquiring an additional 3,102 shares during the quarter. Brighton Jones LLC’s holdings in Salesforce were worth $8,582,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRM. Sustainable Insight Capital Management LLC grew its stake in Salesforce by 127.6% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,411 shares of the CRM provider’s stock worth $1,140,000 after buying an additional 1,912 shares in the last quarter. Montecito Bank & Trust grew its position in Salesforce by 12.6% in the fourth quarter. Montecito Bank & Trust now owns 4,270 shares of the CRM provider’s stock worth $1,428,000 after acquiring an additional 477 shares in the last quarter. Apeiron RIA LLC bought a new position in Salesforce in the fourth quarter valued at $264,000. Secure Asset Management LLC raised its position in Salesforce by 5.5% during the fourth quarter. Secure Asset Management LLC now owns 7,351 shares of the CRM provider’s stock valued at $2,458,000 after purchasing an additional 380 shares in the last quarter. Finally, Red Door Wealth Management LLC boosted its holdings in shares of Salesforce by 7.5% in the 4th quarter. Red Door Wealth Management LLC now owns 20,680 shares of the CRM provider’s stock worth $6,914,000 after purchasing an additional 1,451 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CRM shares. Piper Sandler reissued an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a report on Friday, December 13th. Citigroup boosted their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Up 0.6 %

NYSE:CRM opened at $334.75 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock’s fifty day moving average is $336.50 and its two-hundred day moving average is $293.20. The stock has a market capitalization of $320.36 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. 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 issued its quarterly 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 business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter 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. Research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

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

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction 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 of the company’s stock, valued at $1,888,236.38. This represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 708 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the sale, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at $411,694.92. This trade represents a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,173,891 shares of company stock valued at $402,840,388. 3.20% of the stock is currently owned by corporate 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.