Balanced Wealth Group LLC Invests $225,000 in Salesforce, Inc. (NYSE:CRM)

Balanced Wealth Group LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 856 shares of the CRM provider’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Concord Wealth Partners lifted its holdings in Salesforce by 145.4% in the third quarter. Concord Wealth Partners now owns 3,060 shares of the CRM provider’s stock valued at $621,000 after acquiring an additional 1,813 shares during the period. JB Capital LLC boosted its holdings in Salesforce by 51.6% during the third quarter. JB Capital LLC now owns 1,643 shares of the CRM provider’s stock worth $333,000 after buying an additional 559 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in Salesforce by 21.7% in the third quarter. Verdence Capital Advisors LLC now owns 1,839 shares of the CRM provider’s stock valued at $373,000 after buying an additional 328 shares in the last quarter. Ocean Capital Management LLC raised its position in shares of Salesforce by 12.5% in the third quarter. Ocean Capital Management LLC now owns 11,895 shares of the CRM provider’s stock worth $2,412,000 after acquiring an additional 1,321 shares during the period. Finally, Calamos Wealth Management LLC grew its position in shares of Salesforce by 1.6% during the 3rd quarter. Calamos Wealth Management LLC now owns 3,412 shares of the CRM provider’s stock valued at $692,000 after acquiring an additional 55 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 2,425 shares of the company’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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $292.43, for a total value of $4,386,450.00. Following the transaction, the chief executive officer now directly owns 13,521,166 shares of the company’s stock, valued at approximately $3,953,994,573.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 619,993 shares of company stock valued at $181,048,574. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Bank of America upped their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Monday, April 15th. JMP Securities restated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research report on Monday, April 15th. Citigroup upped their price target on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Wolfe Research restated an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a report on Tuesday, April 16th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $1.79 during midday trading on Wednesday, hitting $278.97. The stock had a trading volume of 3,030,162 shares, compared to its average volume of 5,499,334. The company has a market capitalization of $270.04 billion, a PE ratio of 66.59, a P/E/G ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a 50 day moving average price of $293.29 and a two-hundred day moving average price of $267.99. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (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 business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. Salesforce’s payout ratio is 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.