1,869 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Wealthstar Advisors LLC

Wealthstar Advisors LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,869 shares of the CRM provider’s stock, valued at approximately $625,000.

Several other large investors also recently modified their holdings of CRM. State Street Corp raised its stake in shares of Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC increased its holdings 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 worth $5,395,132,000 after acquiring an additional 257,501 shares during the last quarter. Fisher Asset Management LLC raised its stake in Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after acquiring an additional 314,530 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Salesforce by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after purchasing an additional 96,381 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on CRM shares. Jefferies Financial Group raised their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group lifted their price target on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Bank of America increased their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays lifted their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Price Performance

CRM stock opened at $325.81 on Monday. The stock has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 2.66 and a beta of 1.31. The firm’s 50-day moving average price is $338.97 and its two-hundred day moving average price is $300.67. The company has a current ratio of 1.11, a quick 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.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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 business had revenue of $9.44 billion for 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%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 EPS. As a group, equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is 26.32%.

Insider Activity

In other Salesforce news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. Corporate insiders own 3.20% of the company’s stock.

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.