Jag Capital Management LLC Buys 22,797 Shares of Salesforce, Inc. (NYSE:CRM)

Jag Capital Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 2,507.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,706 shares of the CRM provider’s stock after buying an additional 22,797 shares during the quarter. Salesforce comprises approximately 1.1% of Jag Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding. Jag Capital Management LLC’s holdings in Salesforce were worth $7,926,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Arlington Trust Co LLC lifted its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter valued at approximately $30,000. Asset Planning Inc bought a new position in Salesforce in the fourth quarter valued at approximately $31,000. Collier Financial bought a new position in Salesforce in the fourth quarter valued at approximately $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter valued at approximately $27,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CRM shares. Wells Fargo & Company cut their price objective on shares of Salesforce from $345.00 to $310.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Northland Securities reissued an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, DA Davidson cut their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin L. Washington acquired 1,695 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average price of $294.61 per share, with a total value of $499,363.95. Following the acquisition, the director now owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Down 1.8 %

CRM opened at $292.60 on Tuesday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a 50-day simple moving average of $328.10 and a 200 day simple moving average of $308.16. 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 stock has a market capitalization of $280.02 billion, a price-to-earnings ratio of 48.13, a P/E/G ratio of 2.58 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 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 period in the prior year, the company earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.55%. Salesforce’s dividend payout ratio is 25.16%.

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.