Salesforce, Inc. (NYSE:CRM) Shares Acquired by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 45,388 shares of the CRM provider’s stock after acquiring an additional 2,647 shares during the period. Salesforce comprises approximately 0.6% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 24th largest position. Summit Trail Advisors LLC’s holdings in Salesforce were worth $15,193,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC raised its holdings in Salesforce by 82.7% in the fourth quarter. Pineridge Advisors LLC now owns 137 shares of the CRM provider’s stock valued at $46,000 after acquiring an additional 62 shares in the last quarter. Panoramic Capital Partners LLC bought a new stake in shares of Salesforce in the 4th quarter worth about $223,000. Golden Road Advisors LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $202,000. Arlington Trust Co LLC lifted its position 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 last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its stake in Salesforce by 25.8% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 9,070 shares of the CRM provider’s stock worth $3,032,000 after purchasing an additional 1,861 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $326.95 on Tuesday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. 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 $312.89 billion, a P/E ratio of 53.77, a PEG ratio of 2.66 and a beta of 1.31. The business’s 50-day moving average price is $338.97 and its 200 day moving average price is $301.03.

Salesforce (NYSE:CRM) last released its 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 business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were 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 of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 in the last three months. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. JMP Securities restated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Stifel Nicolaus boosted their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Bank of America increased their target price on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, UBS Group lifted their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One equities 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $377.63.

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.