Peterson Wealth Management Buys 143 Shares of Salesforce, Inc. (NYSE:CRM)

Peterson Wealth Management boosted its holdings in Salesforce, Inc. (NYSE:CRMFree Report) by 3.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,835 shares of the CRM provider’s stock after purchasing an additional 143 shares during the period. Peterson Wealth Management’s holdings in Salesforce were worth $980,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Union Savings Bank bought a new stake in Salesforce in the second quarter worth about $27,000. GHP Investment Advisors Inc. raised its holdings in shares of Salesforce by 30.4% in the 4th quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares during the period. Live Oak Investment Partners purchased a new position in Salesforce in the fourth quarter valued at approximately $36,000. Peoples Bank KS bought a new position in Salesforce during the third quarter valued at $39,000. Finally, HBC Financial Services PLLC raised its stake in shares of Salesforce by 350.0% in the second quarter. HBC Financial Services PLLC now owns 225 shares of the CRM provider’s stock valued at $39,000 after buying an additional 175 shares during the period. Institutional investors own 77.52% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $250.96, for a total transaction of $3,764,400.00. Following the completion of the transaction, the chief executive officer now owns 14,651,166 shares of the company’s stock, valued at approximately $3,676,856,619.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, December 8th. The stock was sold at an average price of $250.96, for a total value of $3,764,400.00. Following the completion of the sale, the chief executive officer now owns 14,651,166 shares of the company’s stock, valued at approximately $3,676,856,619.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 293,965 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $280.00, for a total value of $82,310,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,194,112 shares of company stock valued at $326,290,142. Corporate insiders own 3.70% of the company’s stock.

Salesforce Trading Up 2.5 %

Shares of NYSE CRM traded up $7.80 during midday trading on Friday, reaching $316.62. The company had a trading volume of 7,440,080 shares, compared to its average volume of 5,689,295. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average price is $278.51 and its 200-day moving average price is $239.75. The stock has a market cap of $306.49 billion, a PE ratio of 73.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28. Salesforce, Inc. has a one year low of $170.00 and a one year high of $318.72.

Salesforce (NYSE:CRMGet Free Report) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.50%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.23 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Wednesday, March 13th.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRM shares. JPMorgan Chase & Co. boosted their price objective on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler restated a “neutral” rating and set a $285.00 price target on shares of Salesforce in a research note on Wednesday. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $290.00 to $350.00 in a research note on Thursday, December 21st. Needham & Company LLC increased their target price on Salesforce from $275.00 to $345.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Robert W. Baird lifted their price target on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $291.86.

View Our Latest Research Report on CRM

Salesforce Company Profile

(Free Report)

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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