Raymond James Financial Inc. Buys Shares of 3,510,198 Salesforce, Inc. (NYSE:CRM)

Raymond James Financial Inc. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,510,198 shares of the CRM provider’s stock, valued at approximately $1,173,564,000. Raymond James Financial Inc. owned approximately 0.37% of Salesforce at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new position in Salesforce during the 4th quarter valued at about $31,000. Finally, Collier Financial purchased a new position in Salesforce during the 4th quarter valued at about $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Up 1.6 %

NYSE CRM opened at $292.05 on Thursday. The company’s fifty day simple moving average is $325.91 and its 200-day simple moving average is $308.21. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week 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 stock has a market cap of $279.49 billion, a P/E ratio of 48.03, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.00, for a total value of $1,872,521.00. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of Salesforce 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 completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,793 shares of company stock valued at $383,156,227. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Robert W. Baird lowered their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, BMO Capital Markets lowered their price target on shares of Salesforce from $375.00 to $367.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.32.

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.