Invera Wealth Advisors LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Invera Wealth Advisors LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,745 shares of the CRM provider’s stock after purchasing an additional 104 shares during the quarter. Salesforce accounts for 1.7% of Invera Wealth Advisors LLC’s investment portfolio, making the stock its 21st largest position. Invera Wealth Advisors LLC’s holdings in Salesforce were worth $2,031,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Graypoint LLC boosted its position in shares of Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares in the last quarter. Chase Investment Counsel Corp boosted its position in shares of Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares in the last quarter. JFS Wealth Advisors LLC boosted its position in shares of Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC boosted its position in shares of Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC boosted its position in shares of Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at $17,230,643.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, COO Brian Millham sold 24,453 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $302.08, for a total transaction of $7,386,762.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.20, for a total value of $2,852,000.00. Following the sale, the insider now owns 60,416 shares in the company, valued at $17,230,643.20. The disclosure for this sale can be found here. Insiders sold a total of 610,793 shares of company stock valued at $179,197,018 over the last 90 days. Company insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM traded up $1.57 during mid-day trading on Monday, hitting $275.86. 3,608,431 shares of the company traded hands, compared to its average volume of 5,637,167. The firm has a market cap of $267.58 billion, a price-to-earnings ratio of 65.68, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. 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 stock’s fifty day moving average price is $295.69 and its 200-day moving average price is $265.20. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CRM shares. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Wedbush lifted their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Finally, Argus boosted their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $310.61.

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.