Salesforce, Inc. (NYSE:CRM) Stock Position Raised by Regatta Capital Group LLC

Regatta Capital Group LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,517 shares of the CRM provider’s stock after buying an additional 64 shares during the period. Regatta Capital Group LLC’s holdings in Salesforce were worth $2,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the third quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the second quarter worth $33,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC lifted its position in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in shares of Salesforce during the 3rd quarter worth about $53,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.4 %

Shares of CRM opened at $333.47 on Friday. The company has a market capitalization of $319.13 billion, a P/E ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business’s 50 day simple moving average is $336.73 and its 200-day simple moving average is $294.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Scotiabank boosted their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Stifel Nicolaus boosted their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,173,891 shares of company stock worth $402,840,388. Corporate insiders own 3.20% of the company’s stock.

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.