Salesforce, Inc. (NYSE:CRM) Shares Acquired by NorthStar Asset Management LLC NJ

NorthStar Asset Management LLC NJ boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,176 shares of the CRM provider’s stock after purchasing an additional 411 shares during the quarter. Salesforce comprises approximately 0.5% of NorthStar Asset Management LLC NJ’s portfolio, making the stock its 24th biggest position. NorthStar Asset Management LLC NJ’s holdings in Salesforce were worth $1,730,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter valued at approximately $33,000. Godsey & Gibb Inc. grew its position 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 last quarter. Annapolis Financial Services LLC increased its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Salesforce in the 3rd quarter valued at $53,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and raised their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, BMO Capital Markets upped their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Performance

Shares of NYSE CRM opened at $360.00 on Wednesday. The company has a 50-day simple moving average of $337.23 and a 200-day simple moving average of $295.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $344.52 billion, a PE ratio of 59.21, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 652 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the transaction, the insider now directly owns 121,467 shares of the company’s stock, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,109,169 shares of company stock worth $383,432,020 in the last three months. Company insiders own 3.20% of the company’s stock.

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.