Arkadios Wealth Advisors Acquires 4,212 Shares of Salesforce, Inc. (NYSE:CRM)

Arkadios Wealth Advisors lifted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 11.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,050 shares of the CRM provider’s stock after acquiring an additional 4,212 shares during the quarter. Salesforce makes up about 0.8% of Arkadios Wealth Advisors’ portfolio, making the stock its 20th biggest holding. Arkadios Wealth Advisors’ holdings in Salesforce were worth $14,059,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the second quarter valued at approximately $33,000. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC lifted its holdings in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Salesforce in the 3rd quarter valued at $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM stock opened at $324.77 on Friday. The stock has a market capitalization of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The company’s 50-day moving average is $337.25 and its 200-day moving average is $291.08. 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 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the business posted $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Insiders Place Their Bets

In other news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the sale, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock valued at $405,595,158 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Robert W. Baird upped their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.