Patriot Financial Group Insurance Agency LLC Has $1.43 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Patriot Financial Group Insurance Agency LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 2.3% during the fourth quarter, Holdings Channel reports. The firm owned 4,281 shares of the CRM provider’s stock after acquiring an additional 98 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Salesforce were worth $1,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. EP Wealth Advisors LLC raised its position in Salesforce by 13.5% during the second quarter. EP Wealth Advisors LLC now owns 30,031 shares of the CRM provider’s stock valued at $7,721,000 after purchasing an additional 3,580 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Salesforce by 0.7% during the 2nd quarter. Truist Financial Corp now owns 410,251 shares of the CRM provider’s stock worth $105,476,000 after buying an additional 2,897 shares in the last quarter. Advisory Alpha LLC lifted its position in shares of Salesforce by 32.1% during the 2nd quarter. Advisory Alpha LLC now owns 1,844 shares of the CRM provider’s stock worth $474,000 after buying an additional 448 shares during the last quarter. Ted Buchan & Co acquired a new stake in Salesforce in the second quarter valued at about $871,000. Finally, Granite Bay Wealth Management LLC bought a new position in Salesforce in the second quarter valued at about $8,041,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, COO Brian Millham sold 708 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the sale, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at $411,694.92. The trade was a 36.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,109,169 shares of company stock worth $383,432,020. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRM. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Barclays boosted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Price Performance

Shares of NYSE CRM opened at $360.00 on Wednesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $344.52 billion, a P/E ratio of 59.21, a P/E/G ratio of 3.01 and a beta of 1.30. The company’s 50-day moving average is $337.23 and its 200 day moving average is $295.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend 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.