Prentice Wealth Management LLC Grows Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Prentice Wealth Management LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 1.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,506 shares of the CRM provider’s stock after buying an additional 37 shares during the period. Prentice Wealth Management LLC’s holdings in Salesforce were worth $686,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Waterloo Capital L.P. acquired a new stake in shares of Salesforce in the 4th quarter worth $342,000. Mosley Wealth Management acquired a new stake in Salesforce in the fourth quarter worth about $219,000. Elo Mutual Pension Insurance Co grew its stake in shares of Salesforce by 4.2% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 84,949 shares of the CRM provider’s stock worth $22,353,000 after acquiring an additional 3,429 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of Salesforce by 3.0% during the fourth quarter. State of Tennessee Treasury Department now owns 425,135 shares of the CRM provider’s stock valued at $111,870,000 after acquiring an additional 12,374 shares in the last quarter. Finally, Regal Investment Advisors LLC raised its position in shares of Salesforce by 3.3% in the 4th quarter. Regal Investment Advisors LLC now owns 2,246 shares of the CRM provider’s stock valued at $591,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 1.1 %

Shares of CRM stock traded down $3.18 on Monday, hitting $284.57. The stock had a trading volume of 4,644,295 shares, compared to its average volume of 6,533,702. The company’s 50 day moving average price is $258.53 and its 200-day moving average price is $264.22. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $275.75 billion, a P/E ratio of 51.04, a P/E/G ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Analysts anticipate that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.56%. Salesforce’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. Piper Sandler raised shares of Salesforce from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $268.00 to $325.00 in a report on Tuesday, September 24th. Loop Capital restated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Raymond James boosted their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Finally, Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $310.74.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 80,612 shares of company stock worth $21,133,273 in the last quarter. 3.20% of the stock is owned by company insiders.

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.