Twin Peaks Wealth Advisors LLC Has $1.60 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Twin Peaks Wealth Advisors LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,789 shares of the CRM provider’s stock after selling 68 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in Salesforce were worth $1,601,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its position in shares of Salesforce by 25.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 259 shares of the CRM provider’s stock worth $71,000 after buying an additional 53 shares during the last quarter. Carret Asset Management LLC grew its position in Salesforce by 12.4% in the third quarter. Carret Asset Management LLC now owns 3,011 shares of the CRM provider’s stock valued at $824,000 after acquiring an additional 332 shares during the last quarter. First Financial Bankshares Inc raised its stake in Salesforce by 0.8% during the third quarter. First Financial Bankshares Inc now owns 55,826 shares of the CRM provider’s stock worth $15,280,000 after acquiring an additional 442 shares in the last quarter. Cavalier Investments LLC lifted its holdings in shares of Salesforce by 6.3% in the third quarter. Cavalier Investments LLC now owns 16,347 shares of the CRM provider’s stock worth $4,474,000 after acquiring an additional 966 shares during the last quarter. Finally, Smithbridge Asset Management Inc. DE boosted its stake in shares of Salesforce by 72.7% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 20,455 shares of the CRM provider’s stock valued at $5,599,000 after purchasing an additional 8,609 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRM. Bank of America upped their price objective on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson upped their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Scotiabank raised their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group increased their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,572 shares of company stock valued at $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $308.27 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day moving average is $332.36 and its 200-day moving average is $306.60. The stock has a market capitalization of $295.01 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. Equities research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

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.