Masso Torrence Wealth Management Inc. Has $829,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Masso Torrence Wealth Management Inc. grew its holdings in Salesforce, Inc. (NYSE:CRM) by 21.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,152 shares of the CRM provider’s stock after purchasing an additional 553 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Salesforce were worth $829,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Naples Global Advisors LLC increased its holdings in Salesforce by 16.5% in the third quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock valued at $519,000 after purchasing an additional 363 shares during the last quarter. Traynor Capital Management Inc. increased its holdings in Salesforce by 8.8% in the third quarter. Traynor Capital Management Inc. now owns 1,299 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 105 shares during the last quarter. Capital Investment Advisors LLC increased its holdings in Salesforce by 15.1% in the third quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock valued at $1,335,000 after purchasing an additional 864 shares during the last quarter. Montecito Bank & Trust bought a new stake in Salesforce in the third quarter valued at about $248,000. Finally, Impact Partnership Wealth LLC increased its holdings in Salesforce by 226.5% in the third quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock valued at $65,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CRM shares. Mizuho reissued a “buy” rating and issued a $345.00 target price (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Citigroup boosted their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. BMO Capital Markets boosted their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Evercore ISI upped their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Oppenheimer upped their price objective on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Stock Performance

Shares of NYSE CRM traded up $1.85 during trading hours on Tuesday, reaching $275.66. 5,043,272 shares of the stock were exchanged, compared to its average volume of 5,703,069. The firm has a market capitalization of $267.39 billion, a price-to-earnings ratio of 65.07, a P/E/G ratio of 2.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 52 week low of $190.57 and a 52 week high of $318.71. The stock’s fifty day simple moving average is $297.00 and its 200 day simple moving average is $262.79.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the sale, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The disclosure for this sale can be found here. Insiders have sold 596,379 shares of company stock valued at $175,587,970 over the last 90 days. 3.70% of the stock is owned by corporate insiders.

About Salesforce

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.