Cumberland Partners Ltd Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Cumberland Partners Ltd grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 9.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,100 shares of the CRM provider’s stock after purchasing an additional 1,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Salesforce were worth $2,915,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after acquiring an additional 3,226,512 shares during the last quarter. International Assets Investment Management LLC lifted its position in Salesforce by 23,653.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after purchasing an additional 1,400,300 shares in the last quarter. Lone Pine Capital LLC grew its holdings in Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after purchasing an additional 804,634 shares during the period. Assenagon Asset Management S.A. increased its position in Salesforce by 330.0% in the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock worth $189,779,000 after buying an additional 718,245 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Salesforce in the third quarter worth about $114,521,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM traded up $2.82 during trading hours on Tuesday, reaching $276.63. 6,283,041 shares of the company traded hands, compared to its average volume of 5,718,907. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average price of $296.91 and a 200-day moving average price of $263.28. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The stock has a market capitalization of $268.33 billion, a P/E ratio of 65.86, a P/E/G ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Truist Financial restated a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Evercore ISI upped their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Oppenheimer increased their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Finally, Argus boosted their price objective on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 393 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $280.00, for a total value of $110,040.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the transaction, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 393 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $280.00, for a total transaction of $110,040.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 611,379 shares of company stock worth $179,698,420. Company insiders own 3.70% of the company’s stock.

Salesforce Company 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.