Salesforce, Inc. (NYSE:CRM) Shares Bought by Consolidated Capital Management LLC

Consolidated Capital Management LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,513 shares of the CRM provider’s stock after buying an additional 206 shares during the quarter. Salesforce comprises 0.2% of Consolidated Capital Management LLC’s holdings, making the stock its 28th largest position. Consolidated Capital Management LLC’s holdings in Salesforce were worth $506,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in Salesforce by 1.8% in 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 buying an additional 864,193 shares during the period. Geode Capital Management LLC boosted its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. Fisher Asset Management LLC lifted its position in shares of Salesforce by 2.6% during 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 purchasing an additional 314,530 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after acquiring an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Salesforce by 1.0% during 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. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $324.77 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The stock has a 50-day moving average price of $337.31 and a 200-day moving average price of $291.80.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the sale, the insider now owns 118,514 shares in the company, valued at approximately $34,229,213.48. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brian Millham sold 6,161 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value 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. Over the last ninety days, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays raised their price objective 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 restated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.