Onefund LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

Onefund LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,630 shares of the CRM provider’s stock after purchasing an additional 84 shares during the period. Salesforce makes up about 0.8% of Onefund LLC’s holdings, making the stock its 23rd largest position. Onefund LLC’s holdings in Salesforce were worth $879,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the 4th quarter worth about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce in the 4th quarter worth about $31,000. Collier Financial purchased a new stake in shares of Salesforce in the 4th quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the 3rd quarter worth about $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.9 %

NYSE CRM opened at $297.63 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week 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. The business has a 50 day moving average price of $329.11 and a two-hundred day moving average price of $307.21. The stock has a market cap of $284.83 billion, a PE ratio of 48.95, a P/E/G ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its earnings results 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is presently 25.16%.

Insider Activity

In other news, 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 transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 16,487 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $340.68, for a total value of $5,616,791.16. Following the sale, the chief operating officer now owns 1,662 shares in the company, valued at $566,210.16. The trade was a 90.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,572 shares of company stock worth $381,283,706 in the last three months. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CRM shares. Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer cut their target price on shares of Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday. Royal Bank of Canada boosted their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Redburn Atlantic began coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a “buy” rating for the company. Finally, Wedbush reissued an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.