Mine & Arao Wealth Creation & Management LLC. Raises Stake in Salesforce, Inc. (NYSE:CRM)

Mine & Arao Wealth Creation & Management LLC. boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 49.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,159 shares of the CRM provider’s stock after purchasing an additional 381 shares during the quarter. Mine & Arao Wealth Creation & Management LLC.’s holdings in Salesforce were worth $305,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC raised its position in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after acquiring an additional 3,226,512 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Salesforce by 23,653.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after purchasing an additional 1,400,300 shares during the period. Lone Pine Capital LLC lifted its position in shares of Salesforce by 47.5% in the 3rd quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after buying an additional 804,634 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Salesforce by 330.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after buying an additional 718,245 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at about $114,521,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares in the company, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 610,793 shares of company stock worth $179,074,618. 3.70% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.1 %

Shares of Salesforce stock traded up $0.26 during trading on Wednesday, hitting $269.20. The stock had a trading volume of 1,877,119 shares, compared to its average volume of 5,586,348. The stock has a 50 day simple moving average of $295.34 and a 200 day simple moving average of $265.65. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $261.12 billion, a PE ratio of 63.76, a P/E/G ratio of 2.12 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. UBS Group lifted their target price on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Jefferies Financial Group increased their target price on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Wolfe Research restated an “outperform” rating and set a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Finally, Wells Fargo & Company upped their target price on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Company 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.