Vision Capital Management Inc. Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Vision Capital Management Inc. boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,631 shares of the CRM provider’s stock after acquiring an additional 37 shares during the quarter. Salesforce accounts for 1.1% of Vision Capital Management Inc.’s portfolio, making the stock its 25th biggest holding. Vision Capital Management Inc.’s holdings in Salesforce were worth $7,566,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter worth about $27,000. Godsey & Gibb Inc. raised its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC raised its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. FSA Wealth Management LLC purchased a new stake in Salesforce during the third quarter valued at approximately $53,000. Finally, Friedenthal Financial purchased a new stake in Salesforce during the fourth quarter valued at approximately $55,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $347.41 on Thursday. The stock has a 50-day simple moving average of $338.69 and a two-hundred day simple moving average of $299.31. The firm has a market capitalization of $332.47 billion, a P/E ratio of 57.14, a PEG ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.46%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Northland Securities restated an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Scotiabank increased their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Loop Capital increased their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. UBS Group increased their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus 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.