Berkshire Money Management Inc. Takes Position in Salesforce, Inc. (NYSE:CRM)

Berkshire Money Management Inc. bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 912 shares of the CRM provider’s stock, valued at approximately $305,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter worth about $27,000. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC increased its holdings in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Salesforce during the third quarter worth $53,000. Finally, Friedenthal Financial acquired a new position in shares of Salesforce during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $344.07 on Wednesday. The stock has a market cap of $329.28 billion, a PE ratio of 56.59, a P/E/G ratio of 3.09 and a beta of 1.31. 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 firm has a 50-day moving average of $338.67 and a 200-day moving average of $298.64. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.62 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRM shares. Stifel Nicolaus upped their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, six have given 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.

About Salesforce

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.