Everpar Advisors LLC Acquires 205 Shares of Salesforce, Inc. (NYSE:CRM)

Everpar Advisors LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,957 shares of the CRM provider’s stock after purchasing an additional 205 shares during the quarter. Everpar Advisors LLC’s holdings in Salesforce were worth $654,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Veritas Asset Management LLP bought a new position in shares of Salesforce in the 3rd quarter valued at about $733,805,000. KBC Group NV lifted its stake in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares during the period. Farallon Capital Management LLC increased its position in shares of Salesforce by 51.0% during the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock valued at $757,632,000 after purchasing an additional 994,670 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Salesforce by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after buying an additional 877,495 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the subject of several recent analyst reports. Loop Capital lifted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Stifel Nicolaus upped their price target on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird upped their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock worth $405,595,158 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $320.99 on Friday. The firm’s fifty day simple moving average is $337.05 and its two-hundred day simple moving average is $290.87. The firm has a market capitalization of $307.18 billion, a P/E ratio of 52.79, a P/E/G ratio of 2.87 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.