Central Valley Advisors LLC Has $2.20 Million Stake in Salesforce, Inc. (NYSE:CRM)

Central Valley Advisors LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,580 shares of the CRM provider’s stock after acquiring an additional 150 shares during the period. Salesforce accounts for about 1.0% of Central Valley Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Central Valley Advisors LLC’s holdings in Salesforce were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter worth about $27,000. Godsey & Gibb Inc. boosted its stake in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the second quarter valued at approximately $33,000. Annapolis Financial Services LLC increased its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in Salesforce in the fourth quarter worth $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CRM shares. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. Needham & Company LLC increased their price objective on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. TD Cowen boosted their target price on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank increased their target price 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Stock Down 0.1 %

Shares of NYSE:CRM opened at $320.99 on Friday. The business has a fifty day simple moving average of $337.05 and a 200 day simple moving average of $290.87. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $307.18 billion, a P/E ratio of 52.79, a P/E/G ratio of 2.87 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

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.