Edge Wealth Management LLC Has $15.42 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Edge Wealth Management LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,121 shares of the CRM provider’s stock after selling 1,105 shares during the period. Salesforce accounts for about 3.1% of Edge Wealth Management LLC’s holdings, making the stock its 11th biggest position. Edge Wealth Management LLC’s holdings in Salesforce were worth $15,419,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRM. State Street Corp increased its position in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares in the last quarter. Geode Capital Management LLC boosted its stake in Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after purchasing an additional 314,530 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $320.99 on Friday. The stock has a market cap of $307.18 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $337.05 and a 200 day simple moving average of $290.87. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’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 firm posted $1.62 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.48 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. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Loop Capital upped their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Macquarie reiterated a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Morgan Stanley boosted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $376.05.

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.