Salesforce, Inc. (NYSE:CRM) Shares Purchased by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,398 shares of the CRM provider’s stock after purchasing an additional 211 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Salesforce were worth $2,476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth approximately $27,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% in the 3rd 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 raised 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 purchasing an additional 80 shares in the last quarter. FSA Wealth Management LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at approximately $53,000. Finally, Friedenthal Financial acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Parker Harris sold 652 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares of the company’s stock, valued at $40,361,054.76. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock worth $384,366,700 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Canaccord Genuity Group upped their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. DA Davidson upped their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Down 5.0 %

Shares of Salesforce 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 price-to-earnings ratio of 54.36, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The business has a fifty day simple moving average of $339.04 and a 200-day simple moving average of $299.65. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Salesforce Company 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.