Waterway Wealth Management LLC Acquires Shares of 1,815 Salesforce, Inc. (NYSE:CRM)

Waterway Wealth Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,815 shares of the CRM provider’s stock, valued at approximately $607,000.

Other hedge funds have also modified their holdings of the company. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new position in shares of Salesforce in the 4th quarter valued at about $31,000. Collier Financial purchased a new stake in Salesforce during the fourth quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth about $27,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,102,572 shares of company stock worth $381,283,706. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 4.1 %

Shares of CRM stock opened at $294.80 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. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm’s 50 day moving average price is $330.03 and its two-hundred day moving average price is $306.89. The stock has a market cap of $282.12 billion, a price-to-earnings ratio of 48.49, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its earnings results 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 business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. On average, analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Redburn Atlantic assumed coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Stifel Nicolaus decreased their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday. Wells Fargo & Company dropped their price target on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research report on Thursday. The Goldman Sachs Group lifted their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Scotiabank lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $365.32.

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.