Salesforce, Inc. (NYSE:CRM) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,641 shares of the CRM provider’s stock after acquiring an additional 71 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Salesforce were worth $432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Walkner Condon Financial Advisors LLC raised its stake in Salesforce by 2.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after acquiring an additional 74 shares during the period. Roman Butler Fullerton & Co. grew its position in Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after purchasing an additional 105 shares during the last quarter. Pure Financial Advisors LLC bought a new position in Salesforce in the 4th quarter worth about $214,000. Riversedge Advisors LLC grew its position in Salesforce by 21.7% in the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after purchasing an additional 420 shares during the last quarter. Finally, Lone Pine Capital LLC grew its position in Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after purchasing an additional 804,634 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 0.6 %

Shares of Salesforce stock opened at $270.37 on Friday. The company has a market cap of $262.26 billion, a P/E ratio of 64.39, a P/E/G ratio of 2.09 and a beta of 1.28. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The stock has a 50-day moving average price of $297.28 and a 200 day moving average price of $261.43. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRM. Wells Fargo & Company upped their target price on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and issued a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. UBS Group raised their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Finally, Evercore ISI upped their target price on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 7,074 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $284.00, for a total value of $2,009,016.00. Following the transaction, the chief financial officer now owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 7,074 shares of Salesforce stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the transaction, the chief financial officer now owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $284.11, for a total transaction of $2,841,100.00. Following the transaction, the insider now directly owns 60,976 shares in the company, valued at approximately $17,323,891.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 628,184 shares of company stock worth $184,794,698. Company insiders own 3.70% of the company’s stock.

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.