Salesforce, Inc. (NYSE:CRM) Position Lifted by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 25.1% during the fourth quarter, HoldingsChannel reports. The fund owned 8,746 shares of the CRM provider’s stock after acquiring an additional 1,753 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Salesforce were worth $2,937,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its holdings 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 period. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the fourth quarter worth $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the fourth quarter worth $31,000. Collier Financial acquired a new stake in shares of Salesforce during the fourth quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the third quarter worth $27,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

NYSE:CRM opened at $297.63 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $329.11 and a 200-day moving average of $307.58. The firm has a market cap of $284.83 billion, a price-to-earnings ratio of 48.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 25.16%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CRM shares. Redburn Atlantic started coverage on shares of Salesforce in a report on Wednesday, February 19th. They set a “buy” rating on the stock. DA Davidson dropped their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday. Barclays increased their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup reaffirmed a “cautious” rating on shares of Salesforce in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $365.32.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,102,572 shares of company stock worth $381,283,706 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.