Salesforce, Inc. (NYSE:CRM) Shares Purchased by Cable Hill Partners LLC

Cable Hill Partners LLC raised its position in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,481 shares of the CRM provider’s stock after acquiring an additional 115 shares during the period. Salesforce makes up 0.4% of Cable Hill Partners LLC’s portfolio, making the stock its 21st biggest position. Cable Hill Partners LLC’s holdings in Salesforce were worth $3,508,000 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. State Street Corp lifted its holdings in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC raised its position in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after buying an additional 57,825 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Salesforce by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after buying an additional 96,381 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. DA Davidson upped their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group lifted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $374.47.

View Our Latest Stock Analysis on Salesforce

Salesforce Stock Performance

CRM stock opened at $307.19 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $293.98 billion, a price-to-earnings ratio of 50.53, a PEG ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $330.86 and its two-hundred day moving average is $306.97.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings data 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 firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. This represents a 11.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 458 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock worth $381,283,706 in the last three months. 3.20% of the stock is owned by company insiders.

About Salesforce

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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