Fourpath Capital Management LLC Buys 65 Shares of Salesforce, Inc. (NYSE:CRM)

Fourpath Capital Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186 shares of the CRM provider’s stock after acquiring an additional 65 shares during the quarter. Fourpath Capital Management LLC’s holdings in Salesforce were worth $397,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter worth approximately $27,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Salesforce during the 3rd quarter valued at $53,000. Finally, Friedenthal Financial bought a new stake in shares of Salesforce in the 4th quarter worth $55,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.7 %

CRM opened at $339.28 on Tuesday. The company has a market capitalization of $324.69 billion, a PE ratio of 55.80, a price-to-earnings-growth ratio of 3.09 and a beta of 1.30. The firm has a 50-day simple moving average of $338.67 and a two-hundred day simple moving average of $297.99. 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 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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 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 prior year, the business earned $1.62 EPS. Analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In other news, COO Brian Millham sold 708 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 $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’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 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 position. The disclosure for this sale can be found here. Insiders sold 1,104,699 shares of company stock valued at $382,108,847 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CRM shares. The Goldman Sachs Group upped their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Finally, Macquarie reiterated a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.