Salesforce, Inc. (NYSE:CRM) Shares Bought by Red Door Wealth Management LLC

Red Door Wealth Management LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,680 shares of the CRM provider’s stock after purchasing an additional 1,451 shares during the quarter. Red Door Wealth Management LLC’s holdings in Salesforce were worth $6,914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the third quarter worth about $27,000. Godsey & Gibb Inc. lifted 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 buying an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter worth approximately $33,000. Annapolis Financial Services LLC raised its holdings in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Salesforce in the fourth quarter worth about $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,534,090. This represents a 1.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,173,891 shares of company stock valued at $402,840,388 in the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $334.75 on Friday. The firm has a 50-day moving average of $336.50 and a 200-day moving average of $293.20. The company has a market cap of $320.36 billion, a PE ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 earnings per share. As a group, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given 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 0.48%. Salesforce’s payout ratio is presently 26.32%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CRM shares. Stifel Nicolaus lifted their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Citigroup raised their target price on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. DA Davidson boosted their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Finally, Needham & Company LLC upped their target price on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.