Golden State Wealth Management LLC Takes $522,000 Position in Salesforce, Inc. (NYSE:CRM)

Golden State Wealth Management LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,561 shares of the CRM provider’s stock, valued at approximately $522,000.

Several other large investors have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter worth approximately $27,000. Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of Salesforce during the 4th quarter valued at $55,000. Finally, Rosenberg Matthew Hamilton grew its holdings in shares of Salesforce by 88.3% during the 4th quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock valued at $59,000 after acquiring an additional 83 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 1.5 %

CRM opened at $325.81 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.09 and a beta of 1.31. The firm’s 50-day simple moving average is $339.05 and its 200-day simple moving average is $299.87. 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 posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. Cfra set a $343.00 price objective on Salesforce in a research report on Thursday, October 17th. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Bank of America increased their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares in the company, valued at approximately $2,202,758.58. This represents a 7.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 over the last ninety days. 3.20% of the stock is owned by insiders.

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.