Madison Park Capital Advisors LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Madison Park Capital Advisors LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,544 shares of the CRM provider’s stock, valued at approximately $406,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Schnieders Capital Management LLC purchased a new stake in Salesforce during the fourth quarter valued at about $325,000. Fountainhead AM LLC purchased a new stake in Salesforce during the fourth quarter valued at about $419,000. Cumberland Partners Ltd lifted its stake in Salesforce by 9.9% during the fourth quarter. Cumberland Partners Ltd now owns 11,100 shares of the CRM provider’s stock valued at $2,915,000 after buying an additional 1,000 shares in the last quarter. NewSquare Capital LLC lifted its stake in Salesforce by 3.5% during the fourth quarter. NewSquare Capital LLC now owns 15,130 shares of the CRM provider’s stock valued at $3,981,000 after buying an additional 510 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Salesforce during the fourth quarter valued at about $1,170,000. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CRM. Truist Financial reaffirmed a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Jefferies Financial Group upped their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Finally, Wells Fargo & Company upped their target price on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Activity

In other news, COO Brian Millham sold 24,453 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the transaction, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 611,379 shares of company stock valued at $179,698,420. 3.70% of the stock is owned by company insiders.

Salesforce Stock Performance

CRM stock traded up $2.82 during midday trading on Tuesday, hitting $276.63. 6,283,041 shares of the company traded hands, compared to its average volume of 5,718,907. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business has a 50 day simple moving average of $296.91 and a 200-day simple moving average of $263.28. The stock has a market capitalization of $268.33 billion, a price-to-earnings ratio of 65.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business earned $1.01 earnings per share. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is 9.52%.

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.