MONECO Advisors LLC Buys 731 Shares of Salesforce, Inc. (NYSE:CRM)

MONECO Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 44.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,394 shares of the CRM provider’s stock after buying an additional 731 shares during the quarter. MONECO Advisors LLC’s holdings in Salesforce were worth $630,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Marks Group Wealth Management Inc lifted its stake in Salesforce by 0.7% in the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after buying an additional 257 shares in the last quarter. Roman Butler Fullerton & Co. raised its holdings in shares of Salesforce by 1.4% in the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after purchasing an additional 105 shares during the last quarter. Pure Financial Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $214,000. Lone Pine Capital LLC raised its holdings in shares of Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after purchasing an additional 804,634 shares during the last quarter. Finally, Vicus Capital raised its holdings in shares of Salesforce by 153.2% in the third quarter. Vicus Capital now owns 2,575 shares of the CRM provider’s stock valued at $522,000 after purchasing an additional 1,558 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wolfe Research reiterated an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a report on Tuesday, April 16th. Bank of America lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. KeyCorp began coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Finally, Citigroup upped their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 610,793 shares of company stock worth $179,074,618. Corporate insiders own 3.70% of the company’s stock.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock opened at $268.71 on Wednesday. The company has a market capitalization of $260.65 billion, a price-to-earnings ratio of 64.03, a PEG ratio of 2.12 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71. The firm’s 50-day moving average price is $295.34 and its two-hundred day moving average price is $265.65.

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

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. Salesforce’s payout ratio is currently 9.52%.

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.