Folger Nolan Fleming Douglas Capital Management Inc. Buys 165 Shares of Salesforce, Inc. (NYSE:CRM)

Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 16.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,197 shares of the CRM provider’s stock after buying an additional 165 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Salesforce were worth $315,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CRM. Cerity Partners LLC boosted its holdings 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 buying an additional 3,226,512 shares during the period. International Assets Investment Management LLC boosted its holdings in Salesforce by 23,653.7% in the 4th 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 during the period. Lone Pine Capital LLC boosted its holdings in Salesforce by 47.5% in the 3rd 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. boosted its holdings in Salesforce by 330.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after purchasing an additional 718,245 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Salesforce in the 3rd quarter valued at about $114,521,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the transaction, the insider now owns 60,416 shares in the company, valued at $17,104,977.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the completion of the sale, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,104,977.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 620,793 shares of company stock worth $182,177,918. Insiders own 3.70% of the company’s stock.

Salesforce Stock Up 0.4 %

NYSE CRM traded up $1.15 on Friday, hitting $274.29. 3,754,585 shares of the company were exchanged, compared to its average volume of 5,162,527. The company has a market cap of $266.06 billion, a PE ratio of 65.31, a PEG ratio of 2.10 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71. The stock has a fifty day moving average of $295.97 and a 200-day moving average of $263.90. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Salesforce’s revenue was up 10.8% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a report on Thursday, March 7th. Jefferies Financial Group boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Truist Financial restated a “buy” rating and issued a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Citigroup boosted their target price on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Finally, Mizuho restated a “buy” rating and issued a $345.00 target price (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $310.61.

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.