Fortitude Family Office LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

Fortitude Family Office LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,603 shares of the CRM provider’s stock after buying an additional 55 shares during the quarter. Fortitude Family Office LLC’s holdings in Salesforce were worth $870,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC lifted its stake in Salesforce by 4.8% in the 2nd quarter. LPL Financial LLC now owns 909,821 shares of the CRM provider’s stock worth $233,915,000 after purchasing an additional 41,630 shares in the last quarter. Fortune Financial Advisors LLC increased its holdings in shares of Salesforce by 7.0% in the second quarter. Fortune Financial Advisors LLC now owns 1,349 shares of the CRM provider’s stock worth $347,000 after purchasing an additional 88 shares during the period. Campbell Wealth Management raised its position in shares of Salesforce by 29.8% in the second quarter. Campbell Wealth Management now owns 871 shares of the CRM provider’s stock worth $224,000 after buying an additional 200 shares in the last quarter. Forsta AP Fonden boosted its stake in Salesforce by 3.9% during the second quarter. Forsta AP Fonden now owns 250,647 shares of the CRM provider’s stock valued at $64,441,000 after buying an additional 9,500 shares during the period. Finally, Achmea Investment Management B.V. increased its stake in Salesforce by 2.2% in the 2nd quarter. Achmea Investment Management B.V. now owns 87,120 shares of the CRM provider’s stock worth $22,399,000 after acquiring an additional 1,863 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % 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, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,181,817 shares of company stock valued at $404,760,429 in the last three months. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus boosted their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Canaccord Genuity Group upped their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Loop Capital raised their price target on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Price Performance

Shares of NYSE CRM opened at $326.67 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $312.62 billion, a P/E ratio of 53.73, a P/E/G ratio of 3.21 and a beta of 1.30. The company’s 50-day moving average is $335.36 and its 200 day moving average is $288.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. On average, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

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