1,803 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management purchased a new position in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,803 shares of the CRM provider’s stock, valued at approximately $603,000.

Other large investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the third quarter valued at $27,000. Clear Investment Research LLC lifted its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the second quarter valued at about $33,000. Godsey & Gibb Inc. grew its stake in 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 purchasing an additional 90 shares in the last quarter. Finally, Annapolis Financial Services LLC increased 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. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM traded down $4.00 during trading on Tuesday, reaching $326.53. The company had a trading volume of 2,622,961 shares, compared to its average volume of 4,317,451. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $312.49 billion, a PE ratio of 53.71, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The firm’s fifty day moving average is $333.53 and its 200 day moving average is $287.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly 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 net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the company posted $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CRM shares. The Goldman Sachs Group raised their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Loop Capital upped 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 lifted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Scotiabank boosted their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $375.39.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % 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, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,181,817 shares of company stock worth $404,760,429. 3.20% of the stock is currently owned by company insiders.

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.