Kirtland Hills Capital Management LLC Has $1.67 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Kirtland Hills Capital Management LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 16.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,993 shares of the CRM provider’s stock after buying an additional 710 shares during the quarter. Salesforce makes up 1.1% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. Kirtland Hills Capital Management LLC’s holdings in Salesforce were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Foundations Investment Advisors LLC increased its position in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the 3rd quarter valued at $1,215,000. Prime Capital Investment Advisors LLC increased its holdings in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its holdings in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. Finally, AIA Group Ltd increased its holdings in Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after buying an additional 1,962 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of CRM stock opened at $306.02 on Wednesday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. 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’s fifty day moving average price is $331.46 and its 200-day moving average price is $306.97. The stock has a market cap of $292.86 billion, a PE ratio of 50.33, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its earnings results 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 company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. On average, equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared 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 0.52%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,102,572 shares of company stock valued at $381,283,706 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CRM. Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Robert W. Baird lifted their price objective on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup reduced their price target on Salesforce from $390.00 to $350.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets reduced their price target on Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, February 21st. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $374.47.

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.