Wealthstar Advisors LLC Acquires New Position in Salesforce, Inc. (NYSE:CRM)

Wealthstar Advisors LLC bought a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,869 shares of the CRM provider’s stock, valued at approximately $625,000.

A number of other institutional investors have also recently made changes to their positions in CRM. Legacy Financial Strategies LLC bought a new position in Salesforce in the 4th quarter valued at approximately $204,000. Compass Financial Services Inc purchased a new position in shares of Salesforce in the fourth quarter worth $30,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Salesforce by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 15,621 shares of the CRM provider’s stock valued at $5,223,000 after purchasing an additional 1,079 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Salesforce by 0.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 68,514 shares of the CRM provider’s stock valued at $22,906,000 after buying an additional 603 shares during the last quarter. Finally, Stephens Inc. AR raised its position in Salesforce by 9.3% in the 4th quarter. Stephens Inc. AR now owns 107,083 shares of the CRM provider’s stock worth $35,801,000 after buying an additional 9,081 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. 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 three months. 3.20% of the stock is owned by insiders.

Salesforce Trading Down 1.5 %

NYSE CRM opened at $325.81 on Monday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a 50 day moving average price of $338.97 and a 200 day moving average price of $300.67. 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 firm has a market cap of $311.80 billion, a PE ratio of 53.59, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued 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 (DPR) is currently 26.32%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CRM shares. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a report on Monday, January 6th. Cfra set a $343.00 target price on shares of Salesforce in a research report on Thursday, October 17th. Barclays increased their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.