Salesforce, Inc. (NYSE:CRM) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,959 shares of the CRM provider’s stock after buying an additional 758 shares during the period. Resonant Capital Advisors LLC’s holdings in Salesforce were worth $2,664,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the third quarter worth $27,000. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% in the third 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 increased its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Friedenthal Financial bought a new stake in Salesforce in the fourth quarter worth $55,000. Finally, Rosenberg Matthew Hamilton boosted its holdings in Salesforce by 88.3% in the fourth quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock worth $59,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Parker Harris sold 3,970 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 708 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the sale, the chief operating officer now owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,108,669 shares of company stock valued at $383,286,905. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRM shares. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Robert W. Baird increased their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Price Performance

CRM stock opened at $341.80 on Monday. 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 company has a 50 day simple moving average of $338.67 and a 200 day simple moving average of $297.99. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market cap of $327.10 billion, a price-to-earnings ratio of 56.22, a P/E/G ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the business posted $1.62 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. Research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s payout ratio is presently 26.32%.

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.