Traveka Wealth LLC Has $768,000 Stake in Salesforce, Inc. (NYSE:CRM)

Traveka Wealth LLC increased its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 15.1% during the 4th quarter, Holdings Channel reports. The fund owned 2,297 shares of the CRM provider’s stock after acquiring an additional 301 shares during the period. Traveka Wealth LLC’s holdings in Salesforce were worth $768,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CRM. Nabity Jensen Investment Management Inc acquired a new stake in Salesforce in the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC grew its holdings in shares of Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its position in shares of Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. AIA Group Ltd raised its holdings in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated 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 approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,229,213.48. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,177,617 shares of company stock valued at $403,542,975. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research note on Monday, January 6th. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Morgan Stanley lifted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, DA Davidson boosted their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Get Our Latest Analysis on Salesforce

Salesforce Stock Up 0.5 %

Shares of NYSE CRM opened at $319.39 on Tuesday. 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 company has a market cap of $305.66 billion, a P/E ratio of 52.53, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The business has a 50-day simple moving average of $336.25 and a two-hundred day simple moving average of $290.19.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings data 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 firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

About Salesforce

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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