GAMMA Investing LLC Buys 2,113 Shares of Salesforce, Inc. (NYSE:CRM)

GAMMA Investing LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,441 shares of the CRM provider’s stock after buying an additional 2,113 shares during the quarter. GAMMA Investing LLC’s holdings in Salesforce were worth $4,159,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Capital Wealth Partners LLC acquired a new stake in shares of Salesforce in the second quarter valued at approximately $327,000. Founders Financial Securities LLC lifted its holdings in Salesforce by 7.6% during the 2nd quarter. Founders Financial Securities LLC now owns 3,504 shares of the CRM provider’s stock valued at $901,000 after purchasing an additional 247 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Salesforce by 202.7% during the 2nd quarter. Larson Financial Group LLC now owns 3,081 shares of the CRM provider’s stock valued at $792,000 after purchasing an additional 2,063 shares during the last quarter. GPM Growth Investors Inc. acquired a new position in shares of Salesforce in the second quarter valued at $2,684,000. Finally, Pursue Wealth Partners LLC increased its holdings in shares of Salesforce by 29.9% in the second quarter. Pursue Wealth Partners LLC now owns 3,780 shares of the CRM provider’s stock valued at $972,000 after purchasing an additional 871 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,186,017 shares of company stock valued at $405,971,793. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

NYSE:CRM opened at $330.66 on Friday. The stock’s 50-day moving average is $331.09 and its 200-day moving average is $285.02. The stock has a market cap of $316.44 billion, a P/E ratio of 54.38, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $375.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Piper Sandler reiterated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Eight analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

Salesforce 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.