Sigma Planning Corp Boosts Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Sigma Planning Corp grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,620 shares of the CRM provider’s stock after acquiring an additional 617 shares during the quarter. Sigma Planning Corp’s holdings in Salesforce were worth $8,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Callan Capital LLC raised its stake in shares of Salesforce by 26.6% during the 4th quarter. Callan Capital LLC now owns 3,508 shares of the CRM provider’s stock worth $1,173,000 after purchasing an additional 738 shares during the period. Prentice Wealth Management LLC raised its stake in shares of Salesforce by 3.2% during the 4th quarter. Prentice Wealth Management LLC now owns 2,585 shares of the CRM provider’s stock worth $864,000 after purchasing an additional 79 shares during the period. Variant Private Wealth LLC bought a new stake in shares of Salesforce during the 4th quarter worth $371,000. Leuthold Group LLC bought a new stake in shares of Salesforce during the 4th quarter worth $698,000. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of Salesforce during the 4th quarter worth $204,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % 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 500 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,833 shares of company stock worth $381,389,136 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $309.54 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current 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 stock has a 50 day moving average price of $333.34 and a two-hundred day moving average price of $305.25. The company has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.46 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. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is presently 26.32%.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research note on Monday, January 6th. Redburn Atlantic initiated coverage on Salesforce in a research note on Wednesday. They set a “buy” rating on the stock. Robert W. Baird boosted their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, Barclays boosted their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $375.53.

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.