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

TFB Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,024 shares of the CRM provider’s stock after acquiring an additional 38 shares during the period. TFB Advisors LLC’s holdings in Salesforce were worth $677,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position 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 boosted its position in shares of Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares during the period. Fisher Asset Management LLC grew its holdings in Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 purchasing an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Salesforce by 1.7% during 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 purchasing an additional 96,381 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.8 %

NYSE CRM opened at $324.50 on Wednesday. The stock has a market capitalization of $310.55 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock’s 50 day moving average price is $338.89 and its two-hundred day moving average price is $301.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results 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). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insiders Place Their Bets

In related news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on CRM. JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital upped their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Barclays increased their target price on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Macquarie reissued a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.