Gateway Wealth Partners LLC Takes $306,000 Position in Salesforce, Inc. (NYSE:CRM)

Gateway Wealth Partners LLC acquired a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, Holdings Channel reports. The firm acquired 916 shares of the CRM provider’s stock, valued at approximately $306,000.

Several other large investors also recently added to or reduced their stakes in CRM. Truist Financial Corp boosted its stake in shares of Salesforce by 0.7% during the second quarter. Truist Financial Corp now owns 410,251 shares of the CRM provider’s stock valued at $105,476,000 after purchasing an additional 2,897 shares during the period. Advisory Alpha LLC raised its holdings in Salesforce by 32.1% during the 2nd quarter. Advisory Alpha LLC now owns 1,844 shares of the CRM provider’s stock valued at $474,000 after buying an additional 448 shares during the last quarter. SPC Financial Inc. boosted its position in Salesforce by 31.1% during the 2nd quarter. SPC Financial Inc. now owns 1,924 shares of the CRM provider’s stock valued at $495,000 after buying an additional 456 shares during the period. 3Chopt Investment Partners LLC purchased a new stake in Salesforce during the 2nd quarter valued at $454,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the 2nd quarter worth $33,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,109,169 shares of company stock worth $383,432,020. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

CRM opened at $354.14 on Thursday. The company’s 50-day simple moving average is $337.96 and its two-hundred day simple moving average is $296.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $338.91 billion, a P/E ratio of 58.25, a P/E/G ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research note on Friday, December 13th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Loop Capital upped their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird lifted their target price on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce 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.