Legal Advantage Investments Inc. Grows Stake in Salesforce, Inc. (NYSE:CRM)

Legal Advantage Investments Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,571 shares of the CRM provider’s stock after buying an additional 40 shares during the period. Legal Advantage Investments Inc.’s holdings in Salesforce were worth $1,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Union Savings Bank bought a new stake in shares of Salesforce in the 2nd quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $34,000. Pacifica Partners Inc. raised its holdings in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the period. Peoples Bank KS purchased a new stake in shares of Salesforce in the third quarter worth approximately $39,000. Finally, Quarry LP purchased a new stake in shares of Salesforce in the second quarter worth approximately $41,000. 77.52% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 1,678 shares of Salesforce stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $265.39, for a total value of $445,324.42. Following the completion of the transaction, the chief operating officer now owns 1,662 shares in the company, valued at approximately $441,078.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Brian Millham sold 1,678 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $265.39, for a total value of $445,324.42. Following the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $441,078.18. The disclosure for this sale can be found here. Insiders sold a total of 1,169,296 shares of company stock worth $326,477,726 in the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $307.77 on Friday. 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 52-week low of $185.58 and a 52-week high of $318.71. The business has a 50-day simple moving average of $292.17 and a 200-day simple moving average of $250.17. The stock has a market cap of $298.54 billion, a PE ratio of 73.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating 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 firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the business earned $1.01 EPS. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is presently 9.52%.

Wall Street Analyst Weigh In

Several research analysts have commented on CRM shares. Truist Financial restated a “buy” rating and set a $360.00 price objective (up from $275.00) on shares of Salesforce in a report on Thursday, February 29th. Royal Bank of Canada raised their price objective on Salesforce from $285.00 to $325.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wolfe Research upgraded Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price objective on the stock in a report on Monday, December 18th. Citigroup lifted their price target on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Finally, StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $304.32.

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.