Mine & Arao Wealth Creation & Management LLC. Raises Holdings in Salesforce, Inc. (NYSE:CRM)

Mine & Arao Wealth Creation & Management LLC. raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 49.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159 shares of the CRM provider’s stock after buying an additional 381 shares during the quarter. Mine & Arao Wealth Creation & Management LLC.’s holdings in Salesforce were worth $305,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Graypoint LLC lifted its position in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp raised its holdings 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 worth $2,730,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC lifted its position in 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 during the period. Prentice Wealth Management LLC boosted its holdings in Salesforce by 1.7% in 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 during the last quarter. Finally, MV Capital Management Inc. grew its position in Salesforce by 3.9% during the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 0.1 %

Salesforce stock traded up $0.26 during midday trading on Wednesday, hitting $269.20. 1,877,119 shares of the stock were exchanged, compared to its average volume of 5,586,348. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $261.12 billion, a price-to-earnings ratio of 63.76, a PEG ratio of 2.12 and a beta of 1.28. The stock’s 50-day simple moving average is $295.34 and its 200 day simple moving average is $265.65. Salesforce, Inc. has a fifty-two week low of $190.76 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, equities analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s payout ratio is currently 9.52%.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the sale, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the transaction, the chief executive officer now owns 12,827,327 shares of the company’s stock, valued at approximately $3,475,435,977.38. The disclosure for this sale can be found here. Insiders sold a total of 610,793 shares of company stock valued at $179,074,618 over the last 90 days. 3.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Wolfe Research restated an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Piper Sandler reiterated a “neutral” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, April 15th. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

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.