DeDora Capital Inc. Buys 2,670 Shares of Salesforce, Inc. (NYSE:CRM)

DeDora Capital Inc. lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 60.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,098 shares of the CRM provider’s stock after buying an additional 2,670 shares during the period. DeDora Capital Inc.’s holdings in Salesforce were worth $2,138,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Graypoint LLC increased its position in shares of Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp increased its position in shares of Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC increased its position in shares of Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its position in Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares during the period. Finally, Prentice Wealth Management LLC grew its position in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the completion of the sale, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 629,993 shares of company stock worth $184,255,474. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CRM shares. Bank of America lifted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. KeyCorp started coverage on shares of Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. BMO Capital Markets lifted their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Evercore ISI lifted their price target on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Price Performance

Shares of Salesforce stock traded up $1.53 during trading hours on Friday, reaching $273.66. The company’s stock had a trading volume of 4,041,636 shares, compared to its average volume of 5,219,539. The stock has a market cap of $264.90 billion, a P/E ratio of 65.16, a P/E/G ratio of 2.09 and a beta of 1.30. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The firm has a 50 day moving average price of $294.23 and a 200-day moving average price of $266.17. 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 (NYSE:CRM) last issued its quarterly earnings results 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 company had revenue of $9.29 billion for 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 firm’s 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 EPS. On average, analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

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