BLB&B Advisors LLC Has $15.54 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

BLB&B Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 4.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 46,486 shares of the CRM provider’s stock after buying an additional 1,949 shares during the period. BLB&B Advisors LLC’s holdings in Salesforce were worth $15,542,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of CRM. RBA Wealth Management LLC grew its stake in shares of Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after acquiring an additional 574 shares in the last quarter. CWM LLC grew its position in shares of Salesforce by 6.6% during the 3rd quarter. CWM LLC now owns 77,140 shares of the CRM provider’s stock worth $21,114,000 after purchasing an additional 4,744 shares in the last quarter. Agate Pass Investment Management LLC bought a new position in shares of Salesforce during the third quarter worth approximately $1,370,000. Watts Gwilliam & Co. LLC acquired a new stake in shares of Salesforce in the third quarter valued at approximately $1,136,000. Finally, Private Advisory Group LLC boosted its stake in shares of Salesforce by 1,031.5% in the third quarter. Private Advisory Group LLC now owns 13,488 shares of the CRM provider’s stock valued at $3,692,000 after buying an additional 12,296 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Parker Harris sold 652 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. The trade was a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.5 %

Salesforce stock opened at $325.81 on Friday. The firm has a market cap of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-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. The firm has a 50 day moving average price of $339.05 and a two-hundred day moving average price of $299.87.

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 analysts’ consensus estimates of $2.44 by ($0.03). The firm 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%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. Equities analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

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

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Scotiabank raised their price objective on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. Finally, Macquarie reiterated a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.