714 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Tallon Kerry Patrick

Tallon Kerry Patrick bought a new position in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 714 shares of the CRM provider’s stock, valued at approximately $236,000.

Several other hedge funds also recently bought and sold shares of the company. Aviance Capital Partners LLC raised its holdings in shares of Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the last quarter. EWA LLC raised its holdings in shares of Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after purchasing an additional 33 shares during the last quarter. Umpqua Bank raised its holdings in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares during the last quarter. Principal Street Partners LLC raised its holdings in shares of Salesforce by 1.0% during the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after purchasing an additional 34 shares during the last quarter. Finally, Nvwm LLC raised its holdings in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Bank of America lifted their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Loop Capital lifted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $376.05.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 6,161 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

Salesforce stock opened at $320.99 on Friday. The firm has a 50 day simple moving average of $337.05 and a 200-day simple moving average of $290.87. 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, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $307.18 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business 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 was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

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.