Madrona Financial Services LLC Acquires 71 Shares of Salesforce, Inc. (NYSE:CRM)

Madrona Financial Services LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 995 shares of the CRM provider’s stock after acquiring an additional 71 shares during the quarter. Madrona Financial Services LLC’s holdings in Salesforce were worth $333,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Whalen Wealth Management Inc. bought a new position in shares of Salesforce in the fourth quarter valued at $453,000. Bill Few Associates Inc. bought a new position in shares of Salesforce in the fourth quarter valued at $209,000. MinichMacGregor Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter valued at about $240,000. Raleigh Capital Management Inc. lifted its position in shares of Salesforce by 27.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,367 shares of the CRM provider’s stock valued at $791,000 after purchasing an additional 509 shares in the last quarter. Finally, D.B. Root & Company LLC bought a new position in shares of Salesforce during the fourth quarter valued at about $218,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the completion of the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,171,198 shares of company stock worth $401,945,558 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 0.7 %

CRM stock opened at $330.32 on Thursday. The firm’s fifty day moving average is $336.50 and its 200 day moving average is $293.20. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market cap of $316.12 billion, a PE ratio of 54.44, a P/E/G ratio of 2.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. Loop Capital raised their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.