Salesforce, Inc. (NYSE:CRM) Stake Increased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 21.6% during the first quarter, HoldingsChannel reports. The fund owned 1,474 shares of the CRM provider’s stock after acquiring an additional 262 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Salesforce were worth $444,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CRM. Norges Bank bought a new stake in Salesforce during the fourth quarter valued at $2,762,331,000. Capital International Investors grew its position in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after buying an additional 5,935,973 shares during the last quarter. Cerity Partners LLC raised its stake in Salesforce by 1,254.7% during the fourth 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 period. Coatue Management LLC bought a new position in Salesforce in the fourth quarter worth about $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Salesforce by 110.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock valued at $893,336,000 after acquiring an additional 1,780,421 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on CRM shares. Truist Financial reissued a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Piper Sandler reissued a “neutral” rating and set a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Mizuho restated a “buy” rating and set a $345.00 price target (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Oppenheimer lifted their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Finally, UBS Group upped their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 13,656,166 shares of the company’s stock, valued at $3,892,690,118.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on 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 directly owns 13,656,166 shares of the company’s stock, valued at approximately $3,892,690,118.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 620,793 shares of company stock valued at $182,177,918. 3.70% of the stock is owned by corporate insiders.

Salesforce Price Performance

CRM stock traded up $1.15 on Friday, hitting $274.29. 3,754,585 shares of the company’s stock traded hands, compared to its average volume of 5,162,527. The stock has a market cap of $266.06 billion, a price-to-earnings ratio of 65.31, a P/E/G ratio of 2.10 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $295.97 and a 200-day moving average of $263.90.

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

Salesforce Announces Dividend

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

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.