Angeles Wealth Management LLC Raises Position in Salesforce, Inc. (NYSE:CRM)

Angeles Wealth Management LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,838 shares of the CRM provider’s stock after purchasing an additional 109 shares during the quarter. Angeles Wealth Management LLC’s holdings in Salesforce were worth $1,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce in the 3rd quarter valued at about $27,000. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $30,000. Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC increased its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Salesforce during the third quarter worth approximately $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $167,970.00. Following the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. This represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 over the last quarter. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRM shares. Bank of America boosted their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stifel Nicolaus raised their price objective on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, UBS Group raised their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Down 1.5 %

NYSE:CRM opened at $325.81 on Monday. The company has a market cap of $311.80 billion, a PE ratio of 53.59, a P/E/G ratio of 2.66 and a beta of 1.31. The business’s 50 day moving average is $338.97 and its two-hundred day moving average is $300.67. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business earned $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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