Variant Private Wealth LLC Invests $371,000 in Salesforce, Inc. (NYSE:CRM)

Variant Private Wealth LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,110 shares of the CRM provider’s stock, valued at approximately $371,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter worth about $27,000. Arlington Trust Co LLC raised its stake in Salesforce by 85.1% during the fourth 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 period. Compass Financial Services Inc purchased a new position in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc purchased a new position in Salesforce during the fourth quarter worth about $31,000. Finally, Collier Financial purchased a new position in Salesforce during the fourth quarter worth about $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Northland Securities reiterated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Salesforce Stock Down 2.8 %

Shares of NYSE:CRM opened at $309.54 on Friday. The company has a market capitalization of $296.23 billion, a PE ratio of 50.91, a P/E/G ratio of 2.63 and a beta of 1.31. 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 twelve month low of $212.00 and a twelve month high of $369.00. The firm has a 50 day simple moving average of $333.34 and a 200-day simple moving average of $305.25.

Salesforce (NYSE:CRM) last released its quarterly 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.46 EPS 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 given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,833 shares of company stock worth $381,389,136 in the last 90 days. 3.20% of the stock is owned by insiders.

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.