EdgeRock Capital LLC Has $368,000 Holdings in Salesforce, Inc. (NYSE:CRM)

EdgeRock Capital LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,102 shares of the CRM provider’s stock after purchasing an additional 156 shares during the quarter. EdgeRock Capital LLC’s holdings in Salesforce were worth $368,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CRM. Nvest Financial LLC raised its stake in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD raised its position in shares of Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC increased its stake in Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC boosted its holdings in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup boosted their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. BMO Capital Markets dropped their price target on shares of Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday. Finally, JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Insiders Place Their Bets

In related news, insider Parker Harris sold 942 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. The trade was a 0.78 % 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, insider Miguel Milano sold 458 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 in the last three months. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE CRM opened at $308.27 on Tuesday. 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 company has a fifty day simple moving average of $332.36 and a 200 day simple moving average of $306.60. The company has a market cap of $295.01 billion, a P/E ratio of 50.70, a PEG ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business 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 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.