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

SVB Wealth LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,869 shares of the CRM provider’s stock after buying an additional 2,372 shares during the period. SVB Wealth LLC’s holdings in Salesforce were worth $5,755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First American Trust FSB acquired a new position in shares of Salesforce in the 4th quarter valued at $290,000. LifePlan Financial LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $1,830,000. VELA Investment Management LLC lifted its stake in shares of Salesforce by 2.8% in the 4th quarter. VELA Investment Management LLC now owns 5,183 shares of the CRM provider’s stock valued at $1,364,000 after purchasing an additional 143 shares during the last quarter. Donaldson Capital Management LLC lifted its stake in shares of Salesforce by 9.6% in the 4th quarter. Donaldson Capital Management LLC now owns 6,545 shares of the CRM provider’s stock valued at $1,722,000 after purchasing an additional 573 shares during the last quarter. Finally, Flputnam Investment Management Co. lifted its stake in shares of Salesforce by 12.5% in the 4th quarter. Flputnam Investment Management Co. now owns 66,816 shares of the CRM provider’s stock valued at $17,582,000 after purchasing an additional 7,414 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 1.7 %

CRM opened at $277.41 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day simple moving average of $298.35 and a 200-day simple moving average of $260.79. The stock has a market capitalization of $269.09 billion, a P/E ratio of 66.05, a P/E/G ratio of 2.10 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. On average, equities analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRM. Citigroup increased their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Monday. Oppenheimer upped their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. UBS Group increased their price objective on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a report on Wednesday, April 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $307.87.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the transaction, the insider now directly owns 60,976 shares of the company’s stock, valued at approximately $17,323,891.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the transaction, the insider now directly owns 60,976 shares of the company’s stock, valued at approximately $17,323,891.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The disclosure for this sale can be found here. Insiders sold 897,375 shares of company stock valued at $260,206,096 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.

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.