Accuvest Global Advisors Buys Shares of 11,071 Salesforce, Inc. (NYSE:CRM)

Accuvest Global Advisors bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,071 shares of the CRM provider’s stock, valued at approximately $3,732,000. Salesforce accounts for approximately 5.2% of Accuvest Global Advisors’ holdings, making the stock its 10th largest position.

Several other large investors have also recently bought and sold shares of CRM. Global Retirement Partners LLC grew its stake in shares of Salesforce by 9.6% in the 4th quarter. Global Retirement Partners LLC now owns 15,366 shares of the CRM provider’s stock worth $5,137,000 after purchasing an additional 1,341 shares during the last quarter. Semus Wealth Partners LLC grew its stake in shares of Salesforce by 2.9% in the 4th quarter. Semus Wealth Partners LLC now owns 1,791 shares of the CRM provider’s stock worth $599,000 after purchasing an additional 51 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in shares of Salesforce in the 4th quarter worth approximately $208,000. Klingman & Associates LLC grew its stake in shares of Salesforce by 2.8% in the 4th quarter. Klingman & Associates LLC now owns 2,855 shares of the CRM provider’s stock worth $955,000 after purchasing an additional 77 shares during the last quarter. Finally, Prossimo Advisors LLC grew its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.6 %

Shares of NYSE:CRM opened at $328.62 on Wednesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. 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’s fifty day moving average is $335.64 and its 200-day moving average is $304.52. The company has a market capitalization of $314.49 billion, a PE ratio of 54.05, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (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 firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 EPS. Equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given 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 26.32%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CRM shares. Scotiabank lifted their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research report on Friday, December 13th. Canaccord Genuity Group lifted their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, BMO Capital Markets raised their price target on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Company insiders own 3.20% of the company’s stock.

Salesforce Company 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.