Chemistry Wealth Management LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

Chemistry Wealth Management LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,055 shares of the CRM provider’s stock after purchasing an additional 103 shares during the quarter. Chemistry Wealth Management LLC’s holdings in Salesforce were worth $1,690,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter worth approximately $33,000. Annapolis Financial Services LLC lifted its stake in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Finally, Friedenthal Financial bought a new position in shares of Salesforce in the 4th quarter worth approximately $55,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 1.5 %

NYSE CRM opened at $324.77 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a fifty day moving average of $337.25 and a two-hundred day moving average of $291.08. The firm has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for 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 firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 earnings per share. On average, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Macquarie reiterated a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. UBS Group increased their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Citigroup raised their target price on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Barclays raised their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction 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 in the company, valued at approximately $34,229,213.48. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock valued at $405,595,158 over the last three months. 3.20% of the stock is owned by company insiders.

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.