Salesforce, Inc. (NYSE:CRM) Shares Purchased by RMR Wealth Builders

RMR Wealth Builders boosted its position in Salesforce, Inc. (NYSE:CRM) by 12.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,243 shares of the CRM provider’s stock after purchasing an additional 714 shares during the period. RMR Wealth Builders’ holdings in Salesforce were worth $1,643,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the 4th quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce during the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the 4th quarter valued at $31,000. Pacifica Partners Inc. lifted its position in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter valued at $34,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.6 %

CRM stock opened at $274.45 on Thursday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a market cap of $265.67 billion, a PE ratio of 66.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. The business’s 50-day simple moving average is $293.29 and its 200 day simple moving average is $267.99. 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 (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for 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%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is 9.52%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $292.43, for a total transaction of $4,386,450.00. Following the completion of the transaction, the chief executive officer now owns 13,521,166 shares in the company, valued at $3,953,994,573.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $292.43, for a total value of $4,386,450.00. Following the completion of the transaction, the chief executive officer now owns 13,521,166 shares in the company, valued at $3,953,994,573.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 2,890 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $893,934.80. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $18,687,877.12. The disclosure for this sale can be found here. Insiders sold a total of 624,193 shares of company stock worth $182,212,898 over the last quarter. Company insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRM shares. Wolfe Research reiterated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. KeyCorp assumed coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Bank of America boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. UBS Group boosted their target price 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, Citigroup boosted their target price on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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.