Livforsakringsbolaget Skandia Omsesidigt Has $5.09 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 24.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,221 shares of the CRM provider’s stock after selling 4,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Salesforce were worth $5,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter worth $27,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC increased its position in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Salesforce in the third quarter worth about $53,000. Finally, Friedenthal Financial bought a new stake in Salesforce during the 4th quarter worth approximately $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on CRM. DA Davidson raised their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. BMO Capital Markets increased their price target on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

CRM stock opened at $330.52 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $316.31 billion, a PE ratio of 54.36, a P/E/G ratio of 3.09 and a beta of 1.31. The business has a 50 day moving average of $339.04 and a 200-day moving average of $299.65. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.