Salesforce, Inc. (NYSE:CRM) Shares Bought by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 13.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,695 shares of the CRM provider’s stock after buying an additional 319 shares during the period. Trueblood Wealth Management LLC’s holdings in Salesforce were worth $901,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the 3rd quarter valued at about $27,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% in the 3rd 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 last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Salesforce in the 2nd quarter worth approximately $33,000. Annapolis Financial Services LLC grew its position in Salesforce by 135.6% during the 3rd 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, Friedenthal Financial acquired a new position in Salesforce during the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, COO Brian Millham sold 6,161 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the transaction, the chief operating officer now directly owns 969 shares in the company, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,229,213.48. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,183,838 shares of company stock valued at $405,595,158. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research note on Monday, January 6th. Canaccord Genuity Group upped their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley upped their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One 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. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Trading Up 1.5 %

CRM opened at $324.77 on Monday. The firm has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The company’s 50 day simple moving average is $337.31 and its two-hundred day simple moving average is $291.80. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its 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). 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 quarter last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is presently 26.32%.

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.