Legacy Financial Advisors Inc. Purchases 557 Shares of Salesforce, Inc. (NYSE:CRM)

Legacy Financial Advisors Inc. increased its stake in Salesforce, Inc. (NYSE:CRM) by 11.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,286 shares of the CRM provider’s stock after purchasing an additional 557 shares during the period. Legacy Financial Advisors Inc.’s holdings in Salesforce were worth $1,391,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Sapient Capital LLC bought a new position in Salesforce in the 4th quarter worth approximately $1,657,000. Axxcess Wealth Management LLC grew its holdings in Salesforce by 7.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 11,493 shares of the CRM provider’s stock worth $3,024,000 after acquiring an additional 747 shares during the period. Signature Resources Capital Management LLC acquired a new stake in Salesforce during the 4th quarter worth $26,000. Power Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth $1,731,000. Finally, M&T Bank Corp grew its holdings in shares of Salesforce by 32.0% in the 4th quarter. M&T Bank Corp now owns 170,474 shares of the CRM provider’s stock valued at $44,858,000 after buying an additional 41,287 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRM shares. Piper Sandler reissued a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, April 15th. Truist Financial reissued a “buy” rating and issued a $360.00 price target (up previously from $275.00) on shares of Salesforce in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Finally, Jefferies Financial Group upped their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Stock Performance

Shares of NYSE CRM traded up $1.53 during midday trading on Friday, hitting $273.66. 4,041,636 shares of the company’s stock were exchanged, compared to its average volume of 5,219,539. 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, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71. The company’s 50 day moving average price is $294.23 and its 200 day moving average price is $266.17. The firm has a market capitalization of $264.90 billion, a PE ratio of 65.16, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping 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 the consensus estimate of $9.22 billion. During the same period in the previous year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. 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 currently 9.52%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on 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 completion of the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 629,993 shares of company stock worth $184,255,474 in the last ninety days. 3.70% of the stock is owned by company insiders.

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.