New York Life Investment Management LLC Has $40.09 Million Position in Salesforce, Inc. (NYSE:CRM)

New York Life Investment Management LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,347 shares of the CRM provider’s stock after buying an additional 621 shares during the quarter. New York Life Investment Management LLC’s holdings in Salesforce were worth $40,089,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRM. Bear Mountain Capital Inc. bought a new position in shares of Salesforce during the fourth quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the 4th quarter worth $31,000. BKM Wealth Management LLC acquired a new position in Salesforce during the 4th quarter worth approximately $34,000. Pacifica Partners Inc. grew its position in 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 acquiring an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in 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 acquiring an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 610,793 shares of company stock worth $179,074,618 in the last 90 days. 3.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRM. Evercore ISI raised their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report 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. Oppenheimer lifted their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Mizuho restated a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. 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. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Price Performance

Shares of NYSE:CRM traded down $0.25 during midday trading on Wednesday, hitting $268.69. 3,759,792 shares of the stock were exchanged, compared to its average volume of 5,610,178. The stock has a market cap of $260.63 billion, a P/E ratio of 63.76, a PEG ratio of 2.12 and a beta of 1.28. 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, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The company has a 50 day moving average price of $295.34 and a 200-day moving average price of $265.65.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during 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 quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

About Salesforce

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.