Udine Wealth Management Inc. Purchases 61 Shares of Salesforce, Inc. (NYSE:CRM)

Udine Wealth Management Inc. increased its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,838 shares of the CRM provider’s stock after purchasing an additional 61 shares during the period. Salesforce accounts for approximately 1.5% of Udine Wealth Management Inc.’s holdings, making the stock its 14th largest position. Udine Wealth Management Inc.’s holdings in Salesforce were worth $2,286,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aviance Capital Partners LLC boosted its stake in Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares during the last quarter. EWA LLC boosted its position in shares of Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank grew its holdings in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after buying an additional 34 shares in the last quarter. Principal Street Partners LLC raised its position in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after buying an additional 34 shares during the last quarter. Finally, Nvwm LLC lifted its stake in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 1.5 %

CRM opened at $324.77 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The business’s 50-day moving average price is $337.31 and its 200-day moving average price is $291.56. The company has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In related news, CEO Marc Benioff sold 317,105 shares of the company’s 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 sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock worth $405,595,158 in the last quarter. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRM shares. Wells Fargo & Company lifted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. Wedbush restated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Scotiabank raised their target price on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. DA Davidson boosted their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group raised their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Get Our Latest Analysis on CRM

About Salesforce

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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