3,469 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Unique Wealth Strategies LLC

Unique Wealth Strategies LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,469 shares of the CRM provider’s stock, valued at approximately $913,000.

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

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the completion of the transaction, the chief executive officer now owns 13,656,166 shares of the company’s stock, valued at $3,892,690,118.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the transaction, the chief executive officer now owns 13,656,166 shares in the company, valued at approximately $3,892,690,118.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 620,793 shares of company stock worth $182,177,918. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of recent research reports. Mizuho reiterated a “buy” rating and set a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Robert W. Baird lifted their target price on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wells Fargo & Company boosted their target price on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price target (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Finally, Wolfe Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Trading Up 0.4 %

Shares of CRM stock traded up $1.15 during trading hours on Friday, hitting $274.29. 3,754,585 shares of the company’s stock traded hands, compared to its average volume of 5,162,527. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71. The stock has a market cap of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. The stock’s 50 day simple moving average is $295.97 and its 200 day simple moving average is $263.90.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during 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%. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $1.01 EPS. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s payout ratio is 9.52%.

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.