True North Advisors LLC Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

True North Advisors LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,096 shares of the CRM provider’s stock after buying an additional 413 shares during the quarter. True North Advisors LLC’s holdings in Salesforce were worth $552,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CRM. Tower Wealth Partners Inc. purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $224,000. Chicago Capital LLC increased its stake in Salesforce by 11.0% during the 4th quarter. Chicago Capital LLC now owns 230,461 shares of the CRM provider’s stock worth $60,644,000 after buying an additional 22,787 shares during the period. Clarus Wealth Advisors acquired a new stake in shares of Salesforce in the fourth quarter valued at $595,000. Glass Jacobson Investment Advisors llc acquired a new stake in Salesforce in the 4th quarter valued at about $37,000. Finally, Deltec Asset Management LLC lifted its stake in Salesforce by 508.3% in the fourth quarter. Deltec Asset Management LLC now owns 7,300 shares of the CRM provider’s stock worth $1,921,000 after acquiring an additional 6,100 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. Stifel Nicolaus raised their price target on Salesforce from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Mizuho reaffirmed a “buy” rating and issued a $345.00 price target (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $290.00 to $350.00 in a research note on Thursday, December 21st. JPMorgan Chase & Co. upped their target price on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada boosted their price target on shares of Salesforce from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $304.32.

Read Our Latest Stock Report on CRM

Salesforce Stock Up 0.3 %

Salesforce stock opened at $302.18 on Tuesday. The stock’s 50 day moving average price is $295.12 and its 200 day moving average price is $253.43. The company has a market cap of $293.11 billion, a PE ratio of 71.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a 1-year low of $187.31 and a 1-year high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly 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 analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 EPS. On average, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s payout ratio is 9.52%.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 7,074 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $284.00, for a total value of $2,009,016.00. Following the completion of the transaction, the chief financial officer now owns 38,993 shares in the company, valued at $11,074,012. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Amy E. Weaver sold 7,074 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the sale, the chief financial officer now directly owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $251.61, for a total value of $3,774,150.00. Following the completion of the transaction, the chief executive officer now directly owns 13,896,166 shares in the company, valued at $3,496,414,327.26. The disclosure for this sale can be found here. Insiders have sold 873,722 shares of company stock valued at $249,479,433 in the last quarter. 3.70% of the stock is currently owned by corporate 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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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