Salesforce, Inc. (NYSE:CRM) Position Increased by Mirador Capital Partners LP

Mirador Capital Partners LP raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,911 shares of the CRM provider’s stock after buying an additional 481 shares during the quarter. Mirador Capital Partners LP’s holdings in Salesforce were worth $1,308,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRM. Veritas Asset Management LLP purchased a new stake in Salesforce during the third quarter valued at about $733,805,000. KBC Group NV increased its holdings 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 period. International Assets Investment Management LLC increased 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 valued at $274,490,000 after purchasing an additional 998,628 shares during the period. Farallon Capital Management LLC increased its holdings in shares of Salesforce by 51.0% in 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 period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Salesforce by 25.1% in 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 purchasing an additional 877,495 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the transaction, the chief operating officer now owns 969 shares in the company, valued at $280,767.75. The trade was a 86.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at $34,229,213.48. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,177,617 shares of company stock worth $403,542,975 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRM. Oppenheimer reiterated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Stock Performance

Salesforce stock opened at $322.16 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $336.76 and a two-hundred day moving average price of $290.66. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $308.31 billion, a P/E ratio of 52.99, a P/E/G ratio of 2.87 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 earnings per share (EPS) 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

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 of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

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.