Asset Planning Inc Invests $31,000 in Salesforce, Inc. (NYSE:CRM)

Asset Planning Inc bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 93 shares of the CRM provider’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. RBA Wealth Management LLC increased its position in shares of Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after purchasing an additional 574 shares in the last quarter. Creative Planning increased its position in Salesforce by 8.0% in the 3rd quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock valued at $63,978,000 after acquiring an additional 17,350 shares during the period. SPC Financial Inc. increased its position in Salesforce by 3.7% in the 3rd quarter. SPC Financial Inc. now owns 1,995 shares of the CRM provider’s stock valued at $546,000 after acquiring an additional 71 shares during the period. Bfsg LLC increased its position in Salesforce by 4.7% in the 3rd quarter. Bfsg LLC now owns 4,054 shares of the CRM provider’s stock valued at $1,110,000 after acquiring an additional 183 shares during the period. Finally, Good Life Advisors LLC increased its position in Salesforce by 35.5% in the 3rd quarter. Good Life Advisors LLC now owns 2,216 shares of the CRM provider’s stock valued at $607,000 after acquiring an additional 581 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,705,195. This represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock worth $384,366,700 in the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRM shares. Wells Fargo & Company boosted their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Wedbush restated an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Canaccord Genuity Group boosted their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their target price on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Trading Down 1.3 %

Shares of Salesforce stock opened at $325.49 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market cap of $311.49 billion, a PE ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31. The business’s fifty day moving average is $337.29 and its two-hundred day moving average is $302.33. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. Analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company 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 of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is 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.