Summit Trail Advisors LLC Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Summit Trail Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,388 shares of the CRM provider’s stock after purchasing an additional 2,647 shares during the quarter. Salesforce accounts for 0.6% of Summit Trail Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Summit Trail Advisors LLC’s holdings in Salesforce were worth $15,193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $27,000. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third 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 period. Finally, Annapolis Financial Services LLC raised its holdings in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $326.95 on Tuesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year 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 firm has a 50 day moving average price of $338.97 and a 200 day moving average price of $301.03. The company has a market cap of $312.89 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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 analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 719 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America lifted their price objective on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Northland Securities restated an “outperform” rating and set a $440.00 target price (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.