Salesforce, Inc. (NYSE:CRM) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,718 shares of the CRM provider’s stock after purchasing an additional 2,674 shares during the quarter. HB Wealth Management LLC’s holdings in Salesforce were worth $8,934,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. Aviance Capital Partners LLC increased its holdings in shares of Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the period. EWA LLC grew its position in Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares in the last quarter. Umpqua Bank increased its stake in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares during the period. Principal Street Partners LLC raised its holdings in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after acquiring an additional 34 shares in the last quarter. Finally, Nvwm LLC grew its holdings in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

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. The company has a market capitalization 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. The business has a fifty day simple moving average of $337.31 and a 200 day simple moving average of $291.56. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared 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 dividend payout ratio is currently 26.32%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,229,213.48. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % 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 worth $405,595,158 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRM shares. Jefferies Financial Group raised their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Scotiabank lifted their price target on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. BMO Capital Markets raised their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital boosted their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group lifted their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” 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 given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $377.63.

About Salesforce

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.