Salesforce, Inc. (NYSE:CRM) Shares Purchased by Naples Global Advisors LLC

Naples Global Advisors LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,513 shares of the CRM provider’s stock after purchasing an additional 927 shares during the quarter. Naples Global Advisors LLC’s holdings in Salesforce were worth $3,853,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Nvest Financial LLC grew its stake in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD grew its stake in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares in the last quarter. Sachetta LLC grew its stake in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after buying an additional 32 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the last quarter. Finally, EWA LLC raised its position in Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after acquiring an additional 33 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Up 0.6 %

NYSE CRM opened at $326.26 on Thursday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $338.74 and its two-hundred day moving average is $301.96. The company has a market capitalization of $312.23 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 2.66 and a beta of 1.31.

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

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Loop Capital boosted their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This represents a 13.37 % 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 in the last ninety days. Insiders own 3.20% of the company’s stock.

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.