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

Trifecta Capital Advisors LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 24,071 shares of the CRM provider’s stock after acquiring an additional 771 shares during the period. Salesforce makes up approximately 1.6% of Trifecta Capital Advisors LLC’s holdings, making the stock its 19th largest holding. Trifecta Capital Advisors LLC’s holdings in Salesforce were worth $8,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Veritas Asset Management LLP purchased a new stake in Salesforce during the 3rd quarter worth approximately $733,805,000. Jennison Associates LLC increased its holdings in Salesforce by 52.7% during the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the last quarter. Swedbank AB increased its holdings in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. KBC Group NV increased its holdings in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. Finally, State Street Corp increased its holdings in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. Bank of America lifted their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Stifel Nicolaus boosted their price target on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Salesforce Trading Down 0.5 %

Shares of CRM stock opened at $308.27 on Tuesday. 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, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a fifty day moving average of $332.36 and a two-hundred day moving average of $306.60. The firm has a market capitalization of $295.01 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced 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). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity

In other news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,102,572 shares of company stock worth $381,283,706 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

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.