Salesforce, Inc. (NYSE:CRM) is NewEdge Wealth LLC’s 10th Largest Position

NewEdge Wealth LLC lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 214,325 shares of the CRM provider’s stock after buying an additional 3,351 shares during the period. Salesforce makes up approximately 1.2% of NewEdge Wealth LLC’s holdings, making the stock its 10th largest position. NewEdge Wealth LLC’s holdings in Salesforce were worth $71,655,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Nvest Financial LLC boosted its holdings in Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares in the last quarter. OMC Financial Services LTD increased its position in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares during the last quarter. Sachetta LLC boosted its position in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC grew its stake in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research reports. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Redburn Atlantic started coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. DA Davidson upped their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird upped their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $374.47.

Insider Buying and Selling

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 in the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.4 %

NYSE:CRM opened at $307.19 on Thursday. The business’s 50-day moving average is $330.86 and its two-hundred day moving average is $306.97. The firm has a market capitalization of $293.98 billion, a PE ratio of 50.53, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month 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 announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. 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.