Salesforce, Inc. (NYSE:CRM) Shares Acquired by Clarity Capital Partners LLC

Clarity Capital Partners LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.5% in the fourth quarter, Holdings Channel reports. The firm owned 15,136 shares of the CRM provider’s stock after buying an additional 68 shares during the quarter. Salesforce accounts for approximately 2.6% of Clarity Capital Partners LLC’s holdings, making the stock its 10th biggest holding. Clarity Capital Partners LLC’s holdings in Salesforce were worth $5,060,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Veritas Asset Management LLP bought a new position in Salesforce during the third quarter worth about $733,805,000. Jennison Associates LLC lifted its holdings in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares in the last quarter. Swedbank AB lifted its holdings in Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares in the last quarter. KBC Group NV lifted its holdings in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after acquiring an additional 1,032,068 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after acquiring an additional 998,628 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Salesforce stock opened at $326.26 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock’s 50 day moving average is $338.74 and its 200-day moving average is $301.96. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $312.23 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the company posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CRM shares. Bank of America lifted their target price on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Scotiabank boosted their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Loop Capital boosted their price target on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.