RDA Financial Network Acquires New Shares in Salesforce, Inc. (NYSE:CRM)

RDA Financial Network bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,688 shares of the CRM provider’s stock, valued at approximately $1,567,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Salesforce by 11.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 18,356 shares of the CRM provider’s stock worth $4,719,000 after buying an additional 1,937 shares during the period. Waterloo Capital L.P. boosted its position in shares of Salesforce by 42.5% during the 2nd quarter. Waterloo Capital L.P. now owns 1,533 shares of the CRM provider’s stock worth $394,000 after purchasing an additional 457 shares during the period. SkyOak Wealth LLC acquired a new stake in Salesforce in the 2nd quarter valued at approximately $215,000. First Eagle Investment Management LLC raised its position in Salesforce by 35.8% in the second quarter. First Eagle Investment Management LLC now owns 2,624,665 shares of the CRM provider’s stock valued at $674,801,000 after purchasing an additional 692,493 shares during the period. Finally, Venator Management LLC acquired a new position in Salesforce during the second quarter worth $643,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of research reports. Needham & Company LLC lifted their price objective on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. The Goldman Sachs Group boosted their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America raised their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley upped their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Down 0.1 %

Shares of Salesforce stock opened at $320.99 on Friday. 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 company has a market capitalization of $307.18 billion, a P/E ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company’s fifty day moving average is $337.05 and its two-hundred day moving average is $290.87.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. Analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock valued at $405,595,158 over the last three months. 3.20% of the stock is currently owned by company insiders.

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.