Bartlett & CO. Wealth Management LLC Buys 4,654 Shares of Salesforce, Inc. (NYSE:CRM)

Bartlett & CO. Wealth Management LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 250,845 shares of the CRM provider’s stock after acquiring an additional 4,654 shares during the quarter. Salesforce comprises about 1.2% of Bartlett & CO. Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Bartlett & CO. Wealth Management LLC’s holdings in Salesforce were worth $83,964,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Gabelli Funds LLC raised its stake in shares of Salesforce by 11.9% in the second quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock valued at $618,000 after acquiring an additional 255 shares during the period. Sfmg LLC raised its position in Salesforce by 24.9% in the 2nd quarter. Sfmg LLC now owns 23,264 shares of the CRM provider’s stock worth $5,981,000 after purchasing an additional 4,635 shares during the period. Insigneo Advisory Services LLC lifted its stake in Salesforce by 403.4% in the second quarter. Insigneo Advisory Services LLC now owns 11,836 shares of the CRM provider’s stock worth $2,829,000 after purchasing an additional 9,485 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Salesforce by 16.1% during the second quarter. Toronto Dominion Bank now owns 736,459 shares of the CRM provider’s stock valued at $189,344,000 after buying an additional 102,358 shares during the period. Finally, Unisphere Establishment raised its holdings in shares of Salesforce by 13.9% in the second quarter. Unisphere Establishment now owns 559,000 shares of the CRM provider’s stock worth $143,719,000 after buying an additional 68,250 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays boosted their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and issued a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Scotiabank boosted their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,171,198 shares of company stock valued at $401,945,558 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 1.8 %

Salesforce stock opened at $332.67 on Thursday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50-day moving average price of $336.68 and a 200 day moving average price of $292.92. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $318.37 billion, a price-to-earnings ratio of 54.72, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s payout ratio is currently 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.