Allworth Financial LP Has $7.59 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Allworth Financial LP increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.3% in the fourth quarter, Holdings Channel reports. The firm owned 22,818 shares of the CRM provider’s stock after buying an additional 1,153 shares during the quarter. Allworth Financial LP’s holdings in Salesforce were worth $7,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after acquiring an additional 864,193 shares during the last quarter. Geode Capital Management LLC grew its holdings in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC increased its stake in Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Salesforce by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after purchasing an additional 96,381 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $325.49 on Monday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $336.56 and a 200 day simple moving average of $303.11. The company has a market cap of $311.49 billion, a P/E ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31.

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

Salesforce Dividend Announcement

The company also recently declared 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 of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analysts Set New Price Targets

CRM has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Loop Capital lifted their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. One investment 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce 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.