Salesforce, Inc. (NYSE:CRM) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,342 shares of the CRM provider’s stock after acquiring an additional 142 shares during the period. Miracle Mile Advisors LLC’s holdings in Salesforce were worth $6,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CRM. Aviance Capital Partners LLC increased 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 increased its stake in Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying 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 buying an additional 34 shares during the period. Principal Street Partners LLC increased its stake in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after buying an additional 34 shares during the period. Finally, Nvwm LLC increased its stake in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CRM. Jefferies Financial Group lifted their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America upped their target price on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DA Davidson upped their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $376.05.

Read Our Latest Report on Salesforce

Salesforce Stock Up 0.5 %

CRM stock opened at $319.39 on Tuesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market cap of $305.66 billion, a PE ratio of 52.53, a P/E/G ratio of 3.21 and a beta of 1.30. The firm has a 50 day simple moving average of $336.25 and a 200 day simple moving average of $290.19. 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:CRMGet Free Report) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors 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 of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,177,617 shares of company stock valued at $403,542,975 over the last ninety days. Insiders own 3.20% of the company’s stock.

About Salesforce

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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