Salesforce, Inc. (NYSE:CRM) Stock Position Increased by Pine Haven Investment Counsel Inc

Pine Haven Investment Counsel Inc boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,875 shares of the CRM provider’s stock after buying an additional 100 shares during the quarter. Pine Haven Investment Counsel Inc’s holdings in Salesforce were worth $961,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Diversify Wealth Management LLC boosted its position in shares of Salesforce by 44.9% during the 4th quarter. Diversify Wealth Management LLC now owns 23,680 shares of the CRM provider’s stock valued at $7,527,000 after purchasing an additional 7,335 shares in the last quarter. LVW Advisors LLC raised its holdings in shares of Salesforce by 10.7% in the 4th quarter. LVW Advisors LLC now owns 2,044 shares of the CRM provider’s stock worth $683,000 after purchasing an additional 198 shares in the last quarter. Ellsworth Advisors LLC lifted its stake in Salesforce by 1,562.4% during the fourth quarter. Ellsworth Advisors LLC now owns 13,233 shares of the CRM provider’s stock valued at $4,424,000 after purchasing an additional 12,437 shares during the last quarter. Annex Advisory Services LLC boosted its holdings in Salesforce by 11.5% during the fourth quarter. Annex Advisory Services LLC now owns 84,407 shares of the CRM provider’s stock worth $28,220,000 after buying an additional 8,722 shares in the last quarter. Finally, Client 1ST Advisory Group LLC acquired a new position in Salesforce in the fourth quarter worth approximately $211,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock valued at $405,595,158 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $324.77 on Monday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The business’s 50 day moving average is $337.31 and its two-hundred day moving average is $291.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results 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 return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the firm posted $1.62 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. 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 is 26.32%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRM. Cfra set a $343.00 price objective on Salesforce in a research report on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Loop Capital lifted their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $380.00 to $400.00 in a report on Friday. Finally, Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce 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.