LGT Fund Management Co Ltd. Increases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

LGT Fund Management Co Ltd. lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 19.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,766 shares of the CRM provider’s stock after purchasing an additional 11,481 shares during the period. Salesforce accounts for approximately 2.1% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 9th biggest holding. LGT Fund Management Co Ltd.’s holdings in Salesforce were worth $23,994,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Arlington Trust Co LLC increased its stake in shares of Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce during the 4th quarter worth $30,000. Asset Planning Inc bought a new position in Salesforce during the 4th quarter worth $31,000. Collier Financial acquired a new position in Salesforce in the 4th quarter valued at $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $27,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. This represents a 8.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’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 value of $144,874.08. Following 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. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 in the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 0.9 %

NYSE CRM opened at $297.63 on Monday. The business’s 50-day moving average price is $329.11 and its two-hundred day moving average price is $307.95. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a market capitalization of $284.83 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $1.62 EPS. On average, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is 25.16%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank dropped their price objective on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a report on Thursday. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. BMO Capital Markets dropped their price objective on Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, Guggenheim reiterated a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $365.32.

About Salesforce

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.