1248 Management LLC Acquires Shares of 195 Salesforce Inc. $CRM

1248 Management LLC acquired a new stake in Salesforce Inc. (NYSE:CRM) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 195 shares of the CRM provider’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Brighton Jones LLC grew its holdings in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after buying an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after purchasing an additional 205 shares in the last quarter. Bison Wealth LLC grew its holdings in shares of Salesforce by 9.0% during the 4th quarter. Bison Wealth LLC now owns 2,234 shares of the CRM provider’s stock worth $747,000 after purchasing an additional 184 shares in the last quarter. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth $27,000. Finally, Aptus Capital Advisors LLC grew its holdings in shares of Salesforce by 49.1% during the 4th quarter. Aptus Capital Advisors LLC now owns 13,292 shares of the CRM provider’s stock worth $4,446,000 after purchasing an additional 4,375 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CRM. Erste Group Bank lowered Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $325.00 target price on shares of Salesforce in a report on Thursday. Royal Bank Of Canada reissued a “sector perform” rating and set a $275.00 target price on shares of Salesforce in a report on Monday, August 18th. Morgan Stanley restated an “overweight” rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, UBS Group dropped their target price on Salesforce from $300.00 to $260.00 and set a “neutral” rating for the company in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $341.47.

Salesforce Price Performance

Shares of CRM opened at $256.37 on Monday. Salesforce Inc. has a 1 year low of $226.48 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $245.09 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 2.33 and a beta of 1.22. The business has a 50-day moving average of $257.34 and a 200-day moving average of $268.85.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, June 18th. Salesforce’s payout ratio is presently 25.98%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $248.56, for a total value of $559,260.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,960,740,087.76. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 59,327 shares of company stock valued at $15,201,738 in the last ninety days. Insiders own 3.00% of the company’s stock.

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.