Optas LLC Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Optas LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 210.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,512 shares of the CRM provider’s stock after acquiring an additional 15,270 shares during the quarter. Salesforce comprises 1.6% of Optas LLC’s holdings, making the stock its 15th largest position. Optas LLC’s holdings in Salesforce were worth $7,526,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CRM. Czech National Bank increased its position in Salesforce by 6.7% during the third quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock worth $54,029,000 after purchasing an additional 12,314 shares during the last quarter. RBA Wealth Management LLC grew its stake in shares of Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after buying an additional 574 shares during the period. GAMMA Investing LLC raised its position in shares of Salesforce by 46.8% during the 3rd quarter. GAMMA Investing LLC now owns 10,328 shares of the CRM provider’s stock valued at $2,827,000 after buying an additional 3,292 shares during the period. Herbst Group LLC lifted its holdings in Salesforce by 5.2% in the third quarter. Herbst Group LLC now owns 10,110 shares of the CRM provider’s stock valued at $2,767,000 after acquiring an additional 500 shares during the last quarter. Finally, WealthBridge Capital Management LLC purchased a new position in Salesforce in the third quarter worth approximately $219,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 0.7 %

Shares of NYSE CRM opened at $339.28 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. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $324.69 billion, a price-to-earnings ratio of 55.80, a P/E/G ratio of 3.09 and a beta of 1.30. The business has a fifty day simple moving average of $338.67 and a 200-day simple moving average of $297.99.

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). The firm 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Citigroup boosted their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Buying and Selling

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The stock was 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. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,104,699 shares of company stock worth $382,108,847. Corporate insiders own 3.20% of the company’s stock.

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.