My Legacy Advisors LLC Buys 60 Shares of Salesforce, Inc. (NYSE:CRM)

My Legacy Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,802 shares of the CRM provider’s stock after purchasing an additional 60 shares during the period. My Legacy Advisors LLC’s holdings in Salesforce were worth $900,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CRM. State Street Corp grew its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC lifted its holdings in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the period. Legal & General Group Plc raised its position in shares of Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This represents a 5.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,229,213.48. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock valued at $405,595,158 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Barclays increased their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. UBS Group upped their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Read Our Latest Stock Analysis on Salesforce

Salesforce Stock Up 1.5 %

NYSE:CRM opened at $324.77 on Friday. 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, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a 50-day moving average of $337.31 and a 200 day moving average of $291.56. The firm has a market cap of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly 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). The business had revenue of $9.44 billion during 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%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

About Salesforce

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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