Salesforce, Inc. (NYSE:CRM) Shares Purchased by Accurate Wealth Management LLC

Accurate Wealth Management LLC grew its stake in shares of Salesforce, Inc. (NYSE:CRM) by 39.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,340 shares of the CRM provider’s stock after acquiring an additional 1,217 shares during the period. Accurate Wealth Management LLC’s holdings in Salesforce were worth $1,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fiduciary Financial Group LLC grew its stake in Salesforce by 10.6% in the fourth quarter. Fiduciary Financial Group LLC now owns 5,116 shares of the CRM provider’s stock worth $1,626,000 after purchasing an additional 492 shares in the last quarter. Affinity Capital Advisors LLC bought a new stake in shares of Salesforce in the 4th quarter valued at approximately $208,000. KWB Wealth raised its position in shares of Salesforce by 87.6% during the 4th quarter. KWB Wealth now owns 1,467 shares of the CRM provider’s stock valued at $490,000 after acquiring an additional 685 shares in the last quarter. Ignite Planners LLC lifted its stake in Salesforce by 19.7% during the fourth quarter. Ignite Planners LLC now owns 1,524 shares of the CRM provider’s stock worth $507,000 after purchasing an additional 251 shares during the last quarter. Finally, Tlwm boosted its holdings in Salesforce by 4.2% in the fourth quarter. Tlwm now owns 6,689 shares of the CRM provider’s stock worth $2,236,000 after purchasing an additional 272 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 1.3 %

Shares of CRM opened at $323.31 on Wednesday. The business’s 50-day moving average price is $336.76 and its 200 day moving average price is $290.66. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $309.41 billion, a P/E ratio of 53.18, a P/E/G ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the business earned $1.62 earnings per share. Analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the transaction, the chief operating officer now owns 969 shares of the company’s stock, valued at $280,767.75. The trade was a 86.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,229,213.48. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,177,617 shares of company stock valued at $403,542,975 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CRM shares. Robert W. Baird increased their target price on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and set a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Macquarie restated a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. TD Cowen increased their target price on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Finally, Barclays boosted their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $376.05.

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.