M1 Capital Management LLC Takes $347,000 Position in Salesforce, Inc. (NYSE:CRM)

M1 Capital Management LLC purchased a new position in Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,037 shares of the CRM provider's stock, valued at approximately $347,000.

Several other large investors also recently bought and sold shares of the stock. Nvest Financial LLC grew its stake in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider's stock valued at $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD lifted its holdings in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the period. Prossimo Advisors LLC grew its position in shares of Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. Finally, Muirfield Wealth Advisors LLC raised its position in shares of Salesforce by 2.3% during the 4th quarter. Muirfield Wealth Advisors LLC now owns 1,457 shares of the CRM provider's stock worth $487,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CRM shares. Stifel Nicolaus decreased their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group lowered their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Piper Sandler restated an "overweight" rating on shares of Salesforce in a report on Wednesday. Finally, Robert W. Baird cut their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $348.59.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. This represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 0.8%

Salesforce stock traded down $2.12 during mid-day trading on Wednesday, reaching $275.07. The company's stock had a trading volume of 12,346,453 shares, compared to its average volume of 6,949,523. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market capitalization of $264.45 billion, a price-to-earnings ratio of 45.24, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business's 50 day simple moving average is $268.16 and its 200 day simple moving average is $305.79.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.04. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, April 10th. Salesforce's payout ratio is currently 26.10%.

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.