Tyche Wealth Partners LLC Invests $673,000 in Salesforce, Inc. (NYSE:CRM)

Tyche Wealth Partners LLC acquired a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,556 shares of the CRM provider’s stock, valued at approximately $673,000.

Several other large investors have also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. bought a new stake in Salesforce in the fourth quarter worth $26,000. BKM Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter valued at about $34,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. AlphaMark Advisors LLC boosted its position in Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the period. Finally, Glass Jacobson Investment Advisors llc bought a new stake in Salesforce during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $274.01, for a total value of $4,110,150.00. Following the transaction, the chief executive officer now directly owns 13,761,166 shares in the company, valued at approximately $3,770,697,095.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Brian Millham sold 293,965 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $280.00, for a total value of $82,310,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $274.01, for a total transaction of $4,110,150.00. Following the sale, the chief executive officer now directly owns 13,761,166 shares in the company, valued at approximately $3,770,697,095.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 897,375 shares of company stock worth $260,206,096. Insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. KeyCorp started coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. BMO Capital Markets raised their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Truist Financial reiterated a “buy” rating and set a $360.00 price target (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

Salesforce Trading Up 1.7 %

NYSE:CRM traded up $4.51 during trading hours on Wednesday, hitting $277.41. 7,624,347 shares of the stock were exchanged, compared to its average volume of 4,686,930. The company’s 50 day moving average is $298.35 and its two-hundred day moving average is $260.79. The company has a market capitalization of $269.09 billion, a P/E ratio of 66.05, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. 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.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the company earned $1.01 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, sell-side 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. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is presently 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.