762 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 762 shares of the CRM provider’s stock, valued at approximately $201,000.

Other large investors also recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new position in Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Salesforce during the fourth quarter worth $31,000. BKM Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $34,000. Pacifica Partners Inc. grew its position in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, AlphaMark Advisors LLC increased its stake in shares of Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Evercore ISI increased their price target on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Robert W. Baird increased their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the sale, the chief executive officer now directly owns 12,782,327 shares of the company’s stock, valued at approximately $3,536,230,764.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $276.65, for a total value of $4,149,750.00. Following the transaction, the chief executive officer now owns 12,782,327 shares in the company, valued at $3,536,230,764.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 620,793 shares of company stock valued at $182,177,918. 3.70% of the stock is currently owned by company insiders.

Salesforce Trading Up 0.4 %

CRM traded up $1.15 during trading on Friday, reaching $274.29. 3,754,585 shares of the company’s stock were exchanged, compared to its average volume of 5,162,527. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The firm has a fifty day moving average price of $295.97 and a two-hundred day moving average price of $264.30. The stock has a market capitalization of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

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

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

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.