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

Callan Capital LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 26.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,508 shares of the CRM provider’s stock after purchasing an additional 738 shares during the period. Callan Capital LLC’s holdings in Salesforce were worth $1,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Salesforce by 23,664.2% in the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares during the period. DT Investment Partners LLC boosted its stake in Salesforce by 21.9% in the third quarter. DT Investment Partners LLC now owns 807 shares of the CRM provider’s stock valued at $221,000 after acquiring an additional 145 shares during the period. Investment Research & Advisory Group Inc. boosted its stake in Salesforce by 2.0% in the third quarter. Investment Research & Advisory Group Inc. now owns 15,169 shares of the CRM provider’s stock valued at $4,152,000 after acquiring an additional 296 shares during the period. Zweig DiMenna Associates LLC boosted its stake in Salesforce by 1,566.7% in the third quarter. Zweig DiMenna Associates LLC now owns 25,000 shares of the CRM provider’s stock valued at $6,843,000 after acquiring an additional 23,500 shares during the period. Finally, Legacy Capital Group California Inc. boosted its stake in Salesforce by 62.7% in the third quarter. Legacy Capital Group California Inc. now owns 3,619 shares of the CRM provider’s stock valued at $991,000 after acquiring an additional 1,395 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM opened at $309.54 on Friday. The stock has a fifty day moving average of $333.34 and a 200-day moving average of $305.25. The firm has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRM. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research note on Friday, December 13th. Northland Securities reissued an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Redburn Atlantic began coverage on Salesforce in a report on Wednesday. They issued a “buy” rating for the company. Canaccord Genuity Group increased their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $375.53.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,102,833 shares of company stock valued at $381,389,136. 3.20% of the stock is owned by insiders.

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.