Rockline Wealth Management LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

Rockline Wealth Management LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,212 shares of the CRM provider’s stock after buying an additional 303 shares during the quarter. Rockline Wealth Management LLC’s holdings in Salesforce were worth $4,083,000 at the end of the most recent reporting period.

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

Insider Activity

In other Salesforce news, COO Brian Millham sold 708 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the sale, the chief operating officer now owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,104,699 shares of company stock valued at $382,108,847 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $339.28 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $324.69 billion, a PE ratio of 55.80, a P/E/G ratio of 3.09 and a beta of 1.30. The firm has a 50 day simple moving average of $338.67 and a 200-day simple moving average of $297.99. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last issued 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. On average, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared 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 yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRM. 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 research report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Needham & Company LLC boosted their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One 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 stock. According to data from MarketBeat.com, 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.