RBA Wealth Management LLC Makes New Investment in Salesforce, Inc. (NYSE:CRM)

RBA Wealth Management LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 686 shares of the CRM provider’s stock, valued at approximately $207,000.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter valued at $2,762,331,000. Capital International Investors grew its holdings in Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Cerity Partners LLC raised its position in shares of Salesforce by 1,254.7% in the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after purchasing an additional 3,226,512 shares during the period. Coatue Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Salesforce by 110.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after buying an additional 1,780,421 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 1.9 %

Shares of Salesforce stock traded up $4.76 on Thursday, hitting $260.95. 4,755,729 shares of the company’s stock traded hands, compared to its average volume of 9,006,645. The firm’s 50-day moving average price is $258.72 and its two-hundred day moving average price is $276.32. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $252.86 billion, a PE ratio of 46.93, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 7.19%.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $300.14, for a total transaction of $4,502,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,951,166 shares of the company’s stock, valued at approximately $3,887,162,963.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Amy E. Weaver sold 5,864 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,611,251.28. Following the completion of the transaction, the chief financial officer now directly owns 45,231 shares of the company’s stock, valued at approximately $12,428,121.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $300.14, for a total transaction of $4,502,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,951,166 shares in the company, valued at approximately $3,887,162,963.24. The disclosure for this sale can be found here. Insiders sold 499,152 shares of company stock valued at $136,281,661 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. BMO Capital Markets dropped their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Oppenheimer lowered their target price on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. DA Davidson cut their price target on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Barclays lowered their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Finally, Citigroup cut their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.79.

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.