Financial Life Planners Invests in Salesforce, Inc. (NYSE:CRM)

Financial Life Planners has made a notable move by acquiring a new position in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, as indicated in its latest Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,906 shares of the well-known CRM provider's stock, which is estimated to be worth around $638,000. This investment represents about 0.5% of Financial Life Planners' total holdings, making Salesforce its 21st largest investment.

In addition to Financial Life Planners, several other large investors have also adjusted their stakes in Salesforce. Jennison Associates LLC has significantly increased its holdings by 52.7% during the fourth quarter, now owning 4,433,785 shares valued at approximately $1.48 billion after acquiring an additional 1,530,572 shares during this period. Similarly, One Wealth Advisors LLC raised its position in Salesforce by 3.2%, owning 1,786 shares worth around $597,000 following a purchase of 56 shares. Muirfield Wealth Advisors LLC also grew its stake by 2.3%, acquiring 33 additional shares and now holds 1,457 shares valued at $487,000.

Lazari Capital Management Inc. increased its investments by 1.2%, bringing its total to 5,506 shares valued at $1.84 million after buying 63 more shares. Furthermore, Resonant Capital Advisors LLC raised its position in Salesforce by 10.5%, which now amounts to 7,959 shares worth approximately $2.66 million after purchasing an additional 758 shares in the same quarter. Notably, institutional investors now own a substantial 80.43% of Salesforce's outstanding stock.

Insider Trading Activity

Recent insider trading activity has also generated interest. For instance, Parker Harris, an insider at Salesforce, sold 3,970 shares on November 5th at an average price of $296.74, totaling over $1.18 million. After this sale, he owns 119,402 shares, valued at around $35.43 million, marking a 3.22% decrease in his ownership.

Moreover, Director G Mason Morfit sold a massive block of 722,300 shares on December 18th at an average price of $346.11, for a total of approximately $250 million. Post-transaction, Morfit retains ownership of 3,192,009 shares valued at about $1.10 billion, representing an 18.45% reduction in his position. In the past three months alone, insiders have offloaded a total of 1,108,669 shares worth about $383 million, making insiders’ total ownership around 3.20% of the company.

Salesforce Stock Performance

On the market, Salesforce shares opened at $341.80 recently, with a market capitalization of $327.10 billion. The company's price-to-earnings (P/E) ratio stands at 56.22, accompanied by a price/earnings to growth (PEG) ratio of 3.09 and a beta of 1.31, indicating its volatility in comparison to the market. Over the last twelve months, Salesforce stock has seen a low of $212.00 and a high of $369.00. Its 50-day moving average is currently at $338.67, while the 200-day moving average is $297.99.

On December 3rd, Salesforce reported its quarterly earnings results, revealing earnings per share (EPS) of $2.41, slightly missing analysts' consensus estimates of $2.44 by $0.03. The company achieved revenues of $9.44 billion for the quarter, surpassing projected revenues of $9.35 billion. Salesforce's net margin was 15.96%, and it reported a return on equity of 12.34%, showcasing its growth by 8.3% compared to the same quarter the previous year. Analysts predict an EPS of 7.48 for the current fiscal year.

Dividend Announcement

Salesforce also declared a quarterly dividend of $0.40, which was paid on January 9th to investors of record as of December 18th. This highlights a commitment to returning value to its shareholders, with an annualized dividend of $1.60 and a yield of 0.47%. The current dividend payout ratio for Salesforce is 26.32%.

Analyst Ratings and Price Targets

The stock has garnered attention from several analysts with updated price targets. Needham & Company LLC recently increased its target for Salesforce from $375.00 to $400.00, maintaining a buy rating. TD Cowen upgraded its rating from hold to buy, also setting a new price objective of $400. Piper Sandler reaffirmed its overweight rating with a $405.00 price target. Additionally, Goldman Sachs raised its target from $360.00 to $400.00, while Wells Fargo increased its objective from $275.00 to $330.00, giving it an equal weight rating.

Among analysts, opinions vary with one recommending a sell, six suggesting hold, and a majority issuing buy ratings—31 recommending purchase and four suggesting a strong buy. Currently, Salesforce holds a consensus rating of "Moderate Buy" with an average target price of $377.63.

Overview of Salesforce, Inc.

Salesforce, Inc. specializes in providing Customer Relationship Management (CRM) technology that connects companies with their customers globally. Its services encompass sales activities that help store data, track leads, forecast opportunities, and utilize analytics and artificial intelligence to derive insights, along with personalized customer service solutions.

investment, CRM, stocks