Intellectus Partners LLC Has $1.48 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Intellectus Partners LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 1.2% during the fourth quarter, HoldingsChannel reports. The fund owned 5,612 shares of the CRM provider’s stock after selling 70 shares during the quarter. Intellectus Partners LLC’s holdings in Salesforce were worth $1,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. DAVENPORT & Co LLC increased its stake in Salesforce by 25.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 4,411 shares of the CRM provider’s stock valued at $894,000 after buying an additional 901 shares during the last quarter. Walkner Condon Financial Advisors LLC increased its stake in Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Salesforce by 16.0% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 8,426 shares of the CRM provider’s stock worth $1,709,000 after purchasing an additional 1,160 shares during the last quarter. Evanson Asset Management LLC increased its stake in shares of Salesforce by 44.8% during the 3rd quarter. Evanson Asset Management LLC now owns 1,616 shares of the CRM provider’s stock worth $328,000 after purchasing an additional 500 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Salesforce by 14.8% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 19,228 shares of the CRM provider’s stock worth $3,899,000 after purchasing an additional 2,479 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CRM. Piper Sandler restated a “neutral” rating and set a $300.00 price target on shares of Salesforce in a research note on Monday, April 15th. Canaccord Genuity Group restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Bank of America raised their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Wells Fargo & Company raised their price objective on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now owns 60,416 shares in the company, valued at $17,104,977.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 620,793 shares of company stock valued at $182,177,918. Insiders own 3.70% of the company’s stock.

Salesforce Trading Up 0.4 %

Salesforce stock traded up $1.15 during mid-day trading on Friday, hitting $274.29. The company’s stock had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The stock has a market cap of $266.06 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The business has a 50 day moving average price of $295.97 and a 200-day moving average price of $264.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly 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 earnings per share. As a group, analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.

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.