Carnegie Capital Asset Management LLC Has $905,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Carnegie Capital Asset Management LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 63.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,438 shares of the CRM provider’s stock after buying an additional 1,334 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Salesforce were worth $905,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Graypoint LLC grew its stake in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares during the period. Prentice Wealth Management LLC lifted its holdings in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares in the last quarter. MV Capital Management Inc. lifted its holdings in Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 39 shares in the last quarter. Legal Advantage Investments Inc. lifted its holdings in Salesforce by 0.7% in the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock worth $1,466,000 after purchasing an additional 40 shares in the last quarter. Finally, Mayflower Financial Advisors LLC lifted its holdings in Salesforce by 1.2% in the 4th quarter. Mayflower Financial Advisors LLC now owns 3,411 shares of the CRM provider’s stock worth $898,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, April 12th. The stock was sold at an average price of $295.74, for a total transaction of $4,436,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,928,721 shares in the company, valued at $3,823,539,948.54. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the completion of the transaction, the chief executive officer now owns 12,928,721 shares in the company, valued at approximately $3,823,539,948.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 897,375 shares of company stock worth $260,206,096. 3.70% of the stock is currently owned by insiders.

Salesforce Stock Up 1.7 %

Shares of CRM opened at $277.41 on Wednesday. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The company has a market cap of $269.09 billion, a PE ratio of 66.05, a P/E/G ratio of 2.26 and a beta of 1.28. The business has a fifty day moving average of $298.35 and a 200 day moving average of $260.79. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Mizuho reissued a “buy” rating and issued a $345.00 price target (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Monday. Robert W. Baird boosted their price target on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a report on Tuesday. Finally, Wedbush increased their target price on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.

Salesforce Company 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.