Sanctuary Advisors LLC Purchases 35,493 Shares of Salesforce, Inc. (NYSE:CRM)

Sanctuary Advisors LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 24.8% during the 4th quarter, Holdings Channel reports. The firm owned 178,613 shares of the CRM provider’s stock after buying an additional 35,493 shares during the quarter. Sanctuary Advisors LLC’s holdings in Salesforce were worth $61,366,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc bought a new stake in Salesforce during the 4th quarter worth about $31,000. Collier Financial bought a new stake in Salesforce during the 4th quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter worth about $27,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CRM shares. Scotiabank increased their price objective on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday, February 6th. Barclays increased their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Citigroup increased their price objective on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a report on Monday, January 6th. One investment 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the firm’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 transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 14,808 shares of the firm’s 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 disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $325.49 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $311.49 billion, a P/E ratio of 53.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. The company’s 50 day moving average price is $336.56 and its two-hundred day moving average price is $303.11. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.62 earnings per share. On average, analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Salesforce 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.