Clear Creek Financial Management LLC Invests $364,000 in Salesforce, Inc. (NYSE:CRM)

Clear Creek Financial Management LLC acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,087 shares of the CRM provider’s stock, valued at approximately $364,000.

A number of other large investors have also recently bought and sold shares of the business. Foundations Investment Advisors LLC grew its stake in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new position in Salesforce in the 3rd quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC increased its stake in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the period. Aljian Capital Management LLC raised its position in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd lifted its stake in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.5 %

CRM opened at $341.80 on Monday. The company has a market capitalization of $327.10 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 3.20 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 fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business has a 50-day moving average of $338.67 and a 200-day moving average of $297.66.

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 business had revenue of $9.44 billion for 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 was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRM. Oppenheimer reissued an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Royal Bank of Canada boosted their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Loop Capital upped their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,669 shares of company stock valued at $383,286,905 over the last three months. 3.20% of the stock is currently owned by insiders.

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.