Salesforce, Inc. (NYSE:CRM) is Mogy Joel R Investment Counsel Inc.’s 7th Largest Position

Mogy Joel R Investment Counsel Inc. cut its holdings in Salesforce, Inc. (NYSE:CRM) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,795 shares of the CRM provider’s stock after selling 2,962 shares during the period. Salesforce comprises 3.9% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 7th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Salesforce were worth $51,258,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce during the 4th quarter worth about $31,000. Pacifica Partners Inc. boosted its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth about $34,000. Finally, AlphaMark Advisors LLC boosted its stake in shares of Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. Wedbush lifted their price target on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. BMO Capital Markets lifted their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Jefferies Financial Group boosted their price objective 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. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research report on Thursday, March 7th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, COO Brian Millham sold 24,453 shares of Salesforce stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the sale, the chief executive officer now owns 13,656,166 shares of the company’s stock, valued at $3,892,690,118.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 620,793 shares of company stock worth $182,177,918. Insiders own 3.70% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM traded up $1.15 during mid-day trading on Friday, reaching $274.29. The company’s stock had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The stock has a 50-day moving average of $295.97 and a two-hundred day moving average of $263.90. The stock has a market capitalization of $266.06 billion, a P/E ratio of 65.31, a P/E/G ratio of 2.10 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the business earned $1.01 earnings per share. Salesforce’s revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

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.