Raab & Moskowitz Asset Management LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,869 shares of the CRM provider’s stock after acquiring an additional 965 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Salesforce were worth $1,962,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its holdings in Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the third quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC increased its position in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC raised its holdings in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd raised its holdings in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction on Wednesday, December 18th. The stock was 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 owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last ninety days. 3.20% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Get Our Latest Analysis on Salesforce
Salesforce Stock Performance
Shares of NYSE CRM opened at $326.26 on Thursday. The stock has a market capitalization of $312.23 billion, a PE ratio of 53.66, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50 day moving average price of $338.74 and a 200 day moving average price of $301.96. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.
Salesforce (NYSE:CRM – Get Free Report) 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 firm 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%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. 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 fiscal year.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid 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 0.49%. Salesforce’s dividend payout ratio is 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.
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