Modus Advisors LLC Buys 59 Shares of Salesforce, Inc. (NYSE:CRM)

Modus Advisors LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,406 shares of the CRM provider’s stock after buying an additional 59 shares during the quarter. Salesforce comprises approximately 1.5% of Modus Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Modus Advisors LLC’s holdings in Salesforce were worth $4,817,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CRM. Aviance Capital Partners LLC raised its stake in Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the period. EWA LLC raised its position in shares of Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after purchasing an additional 33 shares during the period. Umpqua Bank increased its stake in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares in the last quarter. Principal Street Partners LLC boosted its holdings in shares of Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after buying an additional 34 shares during the period. Finally, Nvwm LLC lifted its holdings in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the transaction, the chief operating officer now owns 969 shares of the company’s stock, valued at $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the completion of the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,186,017 shares of company stock valued at $405,971,793. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.3 %

Shares of NYSE:CRM traded up $0.84 on Friday, hitting $331.50. The company had a trading volume of 588,367 shares, compared to its average volume of 2,644,834. The firm has a market capitalization of $317.25 billion, a price-to-earnings ratio of 54.52, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $331.09 and its two-hundred day simple moving average is $285.02. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. Stifel Nicolaus upped their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Loop Capital increased their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, TD Cowen boosted their price target on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Eight investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $378.86.

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.