Watershed Private Wealth LLC Has $1.02 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Watershed Private Wealth LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 11.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,064 shares of the CRM provider’s stock after selling 397 shares during the quarter. Watershed Private Wealth LLC’s holdings in Salesforce were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC lifted its position in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Salesforce by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after acquiring an additional 96,381 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada boosted their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 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 transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,109,169 shares of company stock worth $383,432,020 over the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $360.00 on Wednesday. The company has a quick ratio of 1.11, a current 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 has a 50 day moving average of $337.23 and a 200-day moving average of $295.28. The stock has a market cap of $344.52 billion, a price-to-earnings ratio of 59.21, a PEG ratio of 3.01 and a beta of 1.30.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 annualized dividend and a yield of 0.44%. Salesforce’s dividend payout ratio is currently 26.32%.

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.