Jones Financial Companies Lllp Purchases 60,931 Shares of Salesforce, Inc. (NYSE:CRM)

Jones Financial Companies Lllp grew its position in Salesforce, Inc. (NYSE:CRM) by 30.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 262,971 shares of the CRM provider’s stock after acquiring an additional 60,931 shares during the period. Jones Financial Companies Lllp’s holdings in Salesforce were worth $87,919,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter worth $27,000. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $31,000. Finally, Collier Financial bought a new stake in Salesforce during the 4th quarter valued at approximately $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were 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 directly owns 12,162,457 shares of the company’s stock, valued at $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 the firm’s 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 transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock valued at $381,283,706 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $297.63 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a 50-day simple moving average of $329.11 and a two-hundred day simple moving average of $307.58. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization 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 quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced 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 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 25.16%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America decreased their target price on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday. DA Davidson lowered their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday. Wells Fargo & Company reduced their price objective on Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.