Diversify Wealth Management LLC Raises Stake in Salesforce, Inc. (NYSE:CRM)

Diversify Wealth Management LLC grew its holdings in Salesforce, Inc. (NYSE:CRM) by 44.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 23,680 shares of the CRM provider’s stock after buying an additional 7,335 shares during the period. Diversify Wealth Management LLC’s holdings in Salesforce were worth $7,527,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in Salesforce during the 3rd quarter worth approximately $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 1.5 %

CRM stock opened at $324.77 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. The business has a fifty day simple moving average of $337.31 and a 200-day simple moving average of $291.80. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 earnings per share. On average, equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the completion of the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,229,213.48. This trade represents a 3.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,183,838 shares of company stock valued at $405,595,158. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRM. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 price target (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and raised their price objective for the company from $380.00 to $400.00 in a research note on Friday. Canaccord Genuity Group upped their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.