Jag Capital Management LLC Has $7.93 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Jag Capital Management LLC raised its position in shares of Salesforce, Inc. (NYSE:CRM) by 2,507.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 23,706 shares of the CRM provider’s stock after purchasing an additional 22,797 shares during the quarter. Salesforce accounts for approximately 1.1% of Jag Capital Management LLC’s portfolio, making the stock its 29th biggest holding. Jag Capital Management LLC’s holdings in Salesforce were worth $7,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 1.8 %

Shares of NYSE CRM opened at $292.60 on Tuesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $280.02 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 2.58 and a beta of 1.31. The business has a 50-day moving average of $328.10 and a 200-day moving average of $308.16.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the previous year, the firm posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced 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 was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. Salesforce’s payout ratio is 25.16%.

Insider Buying and Selling

In related news, insider Parker Harris sold 942 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares in the company, valued at $40,886,746.74. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robin L. Washington bought 1,695 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now directly owns 43,445 shares in the company, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 1,102,572 shares of company stock worth $381,283,706 in the last quarter. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CRM shares. Truist Financial reaffirmed a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Stifel Nicolaus reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Macquarie reduced their price target on shares of Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.