Blue Barn Wealth LLC Grows Holdings in Salesforce, Inc. (NYSE:CRM)

Blue Barn Wealth LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,168 shares of the CRM provider’s stock after purchasing an additional 156 shares during the period. Blue Barn Wealth LLC’s holdings in Salesforce were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of CRM. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in Salesforce in the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. increased its position in Salesforce by 333.3% during 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 in the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter valued at $34,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CRM. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Wells Fargo & Company raised their price target on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Wedbush boosted their target price on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Argus boosted their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the transaction, the chief executive officer now owns 12,707,327 shares in the company, valued at approximately $3,425,005,846.31. The sale was disclosed in a filing with the SEC, which is available at this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $270.93, for a total value of $1,137,906.00. Following the completion of the sale, the insider now owns 115,762 shares in the company, valued at approximately $31,363,398.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the transaction, the chief executive officer now owns 12,707,327 shares in the company, valued at $3,425,005,846.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 619,993 shares of company stock valued at $181,048,574. 3.70% of the stock is owned by company insiders.

Salesforce Stock Up 0.6 %

Shares of CRM stock traded up $1.79 on Wednesday, reaching $278.97. 3,030,225 shares of the company’s stock traded hands, compared to its average volume of 5,499,122. The business’s 50 day moving average price is $293.29 and its two-hundred day moving average price is $267.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $270.04 billion, a P/E ratio of 66.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.57%. Salesforce’s payout ratio is 9.52%.

Salesforce Company 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.