FLC Capital Advisors Purchases 418 Shares of Salesforce, Inc. (NYSE:CRM)

FLC Capital Advisors lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 15.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,200 shares of the CRM provider’s stock after acquiring an additional 418 shares during the quarter. FLC Capital Advisors’ holdings in Salesforce were worth $842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Prentice Wealth Management LLC lifted its stake in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares in the last quarter. Legal Advantage Investments Inc. grew its holdings in shares of Salesforce by 0.7% during the fourth quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock worth $1,466,000 after purchasing an additional 40 shares during the last quarter. Westside Investment Management Inc. grew its holdings in shares of Salesforce by 0.9% during the fourth quarter. Westside Investment Management Inc. now owns 4,712 shares of the CRM provider’s stock worth $1,240,000 after buying an additional 42 shares during the last quarter. Enterprise Bank & Trust Co grew its holdings in shares of Salesforce by 0.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 12,133 shares of the CRM provider’s stock worth $3,193,000 after buying an additional 44 shares during the last quarter. Finally, Fort Point Capital Partners LLC boosted its holdings in Salesforce by 1.5% in the 3rd quarter. Fort Point Capital Partners LLC now owns 3,298 shares of the CRM provider’s stock valued at $669,000 after purchasing an additional 49 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $306.50, for a total value of $1,287,300.00. Following the transaction, the insider now owns 105,837 shares of the company’s stock, valued at approximately $32,439,040.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $306.50, for a total transaction of $1,287,300.00. Following the completion of the sale, the insider now directly owns 105,837 shares in the company, valued at approximately $32,439,040.50. The disclosure for this sale can be found here. Insiders sold 1,163,507 shares of company stock worth $325,822,813 in the last three months. 3.70% of the stock is owned by company insiders.

Salesforce Stock Performance

NYSE CRM traded down $4.42 during trading on Wednesday, hitting $301.41. 3,859,335 shares of the company’s stock traded hands, compared to its average volume of 5,779,520. The stock has a market capitalization of $292.37 billion, a price-to-earnings ratio of 71.76, a PEG ratio of 2.35 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50 day moving average of $293.59 and a 200-day moving average of $251.75.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRM shares. Needham & Company LLC lifted their price target on shares of Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JMP Securities boosted their price objective on shares of Salesforce from $293.00 to $342.00 and gave the company a “market outperform” rating in a research note on Thursday, February 29th. BMO Capital Markets upped their price target on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Raymond James upped their price target on shares of Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 30th. Finally, Stifel Nicolaus boosted their price objective on shares of Salesforce from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $304.32.

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.