1,411 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Cvfg LLC

Cvfg LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,411 shares of the CRM provider’s stock, valued at approximately $472,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter valued at about $27,000. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter worth approximately $33,000. Annapolis Financial Services LLC lifted its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRM. Wells Fargo & Company upped their price objective on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. TD Cowen raised their price target on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Needham & Company LLC boosted their price objective on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Stock Down 0.1 %

Shares of Salesforce stock opened at $320.99 on Friday. The firm has a market cap of $307.18 billion, a PE ratio of 52.79, a P/E/G ratio of 2.87 and a beta of 1.30. The business’s 50 day simple moving average is $337.05 and its 200 day simple moving average is $290.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced 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 was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 317,105 shares of the 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 in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,183,838 shares of company stock worth $405,595,158. Company insiders own 3.20% of the company’s stock.

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.