Cardano Risk Management B.V. Purchases New Stake in Salesforce, Inc. (NYSE:CRM)

Cardano Risk Management B.V. purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 334,579 shares of the CRM provider’s stock, valued at approximately $111,860,000. Salesforce makes up 1.7% of Cardano Risk Management B.V.’s holdings, making the stock its 18th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Compton Wealth Advisory Group LLC boosted its position in Salesforce by 6.2% during the fourth quarter. Compton Wealth Advisory Group LLC now owns 8,167 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 475 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in Salesforce during the fourth quarter worth $60,000. Capital Investment Advisors LLC boosted its position in Salesforce by 1.6% during the fourth quarter. Capital Investment Advisors LLC now owns 6,745 shares of the CRM provider’s stock worth $2,255,000 after purchasing an additional 106 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Salesforce by 1.2% in the fourth quarter. Brookstone Capital Management now owns 57,167 shares of the CRM provider’s stock worth $19,113,000 after acquiring an additional 652 shares during the last quarter. Finally, Trust Co. of Toledo NA OH raised its holdings in shares of Salesforce by 2.5% in the fourth quarter. Trust Co. of Toledo NA OH now owns 14,942 shares of the CRM provider’s stock worth $4,996,000 after acquiring an additional 370 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of the firm’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 value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,181,817 shares of company stock worth $404,760,429. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Up 0.0 %

CRM traded up $0.01 on Monday, reaching $317.86. The company’s stock had a trading volume of 1,418,203 shares, compared to its average volume of 4,424,983. The business’s 50 day moving average is $335.82 and its 200 day moving average is $289.73. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market cap of $304.19 billion, a price-to-earnings ratio of 52.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on CRM. DA Davidson boosted their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

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.