Salesforce, Inc. (NYSE:CRM) Shares Bought by Pineridge Advisors LLC

Pineridge Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 82.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137 shares of the CRM provider’s stock after purchasing an additional 62 shares during the quarter. Pineridge Advisors LLC’s holdings in Salesforce were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CRM. Nvest Financial LLC boosted its position in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD boosted its holdings in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC grew its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares in the last quarter. Aviance Capital Partners LLC raised its position in shares of Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares in the last quarter. Finally, EWA LLC boosted its stake in shares of Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after buying an additional 33 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE CRM opened at $326.95 on Tuesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market cap of $312.89 billion, a P/E ratio of 53.77, a PEG ratio of 2.66 and a beta of 1.31. The stock has a fifty day moving average price of $338.97 and a two-hundred day moving average price of $301.03. 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 (NYSE:CRM) last announced 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 6th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a report on Monday, January 6th. Finally, Bank of America boosted their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” 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-one have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. Corporate 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.