By otakuyassine3@gmail.com 
Bay Rivers Group increased its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 33.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,147 shares of the CRM provider’s stock after purchasing an additional 2,548 shares during the period. Salesforce comprises about 1.6% of Bay Rivers Group’s investment portfolio, making the stock its 22nd biggest holding. Bay Rivers Group’s holdings in Salesforce were worth $3,392,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter valued at $33,000. Godsey & Gibb Inc. grew its holdings in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC increased its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Salesforce during the third quarter worth $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.
Salesforce Trading Up 4.0 %
CRM stock opened at $347.26 on Tuesday. 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 firm has a market cap of $332.33 billion, a P/E ratio of 57.12, a P/E/G ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business’s 50 day moving average is $336.73 and its 200-day moving average is $294.60.
Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings data 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 dividend on an annualized basis and a yield of 0.46%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.
Insiders Place Their Bets
In related news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now 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. Over the last ninety days, insiders have sold 1,109,169 shares of company stock valued at $383,432,020. 3.20% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have weighed in on CRM shares. Scotiabank upped their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Oppenheimer reiterated 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. Royal Bank of Canada boosted their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. DA Davidson raised their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Morgan Stanley upped their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.
View Our Latest Analysis on CRM
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.
Further Reading
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