Three Bridge Wealth Advisors LLC Purchases New Shares in Salesforce, Inc. (NYSE:CRM)

Three Bridge Wealth Advisors LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 611 shares of the CRM provider’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter worth about $27,000. Arlington Trust Co LLC increased its position in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce in the fourth quarter worth about $30,000. Collier Financial bought a new position in shares of Salesforce in the fourth quarter worth about $32,000. Finally, Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.6 %

NYSE:CRM opened at $326.26 on Thursday. The stock has a 50-day simple moving average of $338.74 and a 200 day simple moving average of $301.96. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a market cap of $312.23 billion, a PE ratio of 53.66, a PEG ratio of 2.66 and a beta of 1.31. 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 released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the company earned $1.62 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, sell-side analysts expect 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 paid 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 payout ratio is currently 26.32%.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 652 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the transaction, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CRM shares. Bank of America raised their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Jefferies Financial Group lifted their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Scotiabank raised their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.