By otakuyassine3@gmail.com 
Princeton Global Asset Management LLC grew its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 2,380.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,349 shares of the CRM provider’s stock after buying an additional 6,093 shares during the period. Princeton Global Asset Management LLC’s holdings in Salesforce were worth $2,123,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. State Street Corp boosted its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the last quarter. Geode Capital Management LLC boosted its position in Salesforce by 1.3% during the third 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 grew its stake in Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Salesforce by 1.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after purchasing an additional 57,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Salesforce by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after purchasing an additional 96,381 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Salesforce Stock Performance
NYSE:CRM opened at $341.80 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50-day simple moving average of $338.67 and a two-hundred day simple moving average of $297.66. The firm has a market capitalization of $327.10 billion, a PE ratio of 56.22, a P/E/G ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.
Salesforce (NYSE:CRM – Get Free Report) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. Analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.
Salesforce Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.
Insiders Place Their Bets
In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 708 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the transaction, the chief operating officer now owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. This represents a 36.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,108,669 shares of company stock worth $383,286,905. Corporate insiders own 3.20% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently weighed in on CRM shares. Oppenheimer reissued an “outperform” rating and issued a $415.00 target price (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wedbush restated an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.
Read Our Latest Stock Analysis on Salesforce
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.
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