Genesis Private Wealth LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,062 shares of the CRM provider’s stock, valued at approximately $355,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the 2nd quarter worth $33,000. Godsey & Gibb Inc. grew its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC lifted its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Salesforce during the third quarter valued at $53,000. 80.43% of the stock is currently owned by institutional investors.
Insider Activity
In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,172,167 shares of company stock worth $402,223,235 over the last quarter. 3.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Get Our Latest Stock Report on CRM
Salesforce Stock Performance
NYSE:CRM opened at $326.85 on Wednesday. The stock has a market capitalization of $312.79 billion, a P/E ratio of 53.76, a price-to-earnings-growth ratio of 2.93 and a beta of 1.30. 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 1 year low of $212.00 and a 1 year high of $369.00. The firm has a 50 day moving average of $336.97 and a 200-day moving average of $292.47.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.
Salesforce Dividend Announcement
The business also recently declared 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 yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.
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.
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