Salesforce, Inc. (NYSE:CRM) Shares Bought by My Legacy Advisors LLC

My Legacy Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,802 shares of the CRM provider’s stock after purchasing an additional 60 shares during the quarter. My Legacy Advisors LLC’s holdings in Salesforce were worth $900,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CRM. GM Advisory Group LLC acquired a new stake in shares of Salesforce during the 2nd quarter worth approximately $227,000. Bridges Investment Management Inc. grew its position in Salesforce by 263.7% during the second quarter. Bridges Investment Management Inc. now owns 4,714 shares of the CRM provider’s stock valued at $1,212,000 after buying an additional 3,418 shares during the period. Pacer Advisors Inc. increased its holdings in Salesforce by 14.5% in the second quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock valued at $24,734,000 after buying an additional 12,193 shares in the last quarter. Garden State Investment Advisory Services LLC raised its position in shares of Salesforce by 9.2% in the second quarter. Garden State Investment Advisory Services LLC now owns 2,557 shares of the CRM provider’s stock worth $658,000 after acquiring an additional 216 shares during the period. Finally, Columbus Hill Capital Management L.P. boosted its stake in shares of Salesforce by 87.6% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 73,759 shares of the CRM provider’s stock worth $18,963,000 after acquiring an additional 34,435 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several recent analyst reports. Barclays lifted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research note on Friday, December 13th. Macquarie restated a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Bank of America lifted their target price on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Up 1.5 %

Shares of CRM opened at $324.77 on Friday. The company’s 50-day simple moving average is $337.31 and its 200-day simple moving average is $291.56. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $310.81 billion, a PE ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its 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 business 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%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. Analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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 dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,183,838 shares of company stock worth $405,595,158. 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.