Austin Private Wealth LLC Has $985,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Austin Private Wealth LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 10.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,947 shares of the CRM provider’s stock after purchasing an additional 271 shares during the quarter. Austin Private Wealth LLC’s holdings in Salesforce were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CRM. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter worth approximately $33,000. Anchor Investment Management LLC increased its holdings in Salesforce by 5.5% during the 2nd quarter. Anchor Investment Management LLC now owns 3,709 shares of the CRM provider’s stock worth $954,000 after purchasing an additional 195 shares in the last quarter. Abacus Planning Group Inc. grew its holdings in shares of Salesforce by 28.6% in the third quarter. Abacus Planning Group Inc. now owns 1,044 shares of the CRM provider’s stock valued at $286,000 after acquiring an additional 232 shares in the last quarter. Czech National Bank grew its holdings in shares of Salesforce by 6.7% in the third quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock valued at $54,029,000 after acquiring an additional 12,314 shares in the last quarter. Finally, Unique Wealth LLC lifted its stake in Salesforce by 12.9% in the third quarter. Unique Wealth LLC now owns 6,972 shares of the CRM provider’s stock valued at $1,908,000 after purchasing an additional 798 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 3,970 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,669 shares of company stock worth $383,286,905 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $341.80 on Friday. The firm has a market cap of $327.10 billion, a P/E ratio of 56.22, a PEG ratio of 3.20 and a beta of 1.30. The company has a 50 day simple moving average of $338.68 and a two-hundred day simple moving average of $296.75. 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, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last announced its 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the company posted $1.62 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on CRM. DA Davidson increased their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus raised their price objective on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Morgan Stanley boosted their price target on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.