MGO Private Wealth LLC Invests $232,000 in Salesforce, Inc. (NYSE:CRM)

MGO Private Wealth LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 883 shares of the CRM provider’s stock, valued at approximately $232,000.

Several other institutional investors also recently modified their holdings of the business. Bear Mountain Capital Inc. bought a new stake in Salesforce during the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce during the 4th quarter valued at about $31,000. Pacifica Partners Inc. increased its holdings in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth approximately $34,000. Finally, AlphaMark Advisors LLC grew its holdings in shares of Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

NYSE:CRM traded up $1.15 during mid-day trading 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 debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50 day simple moving average is $295.97 and its 200 day simple moving average is $264.30. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71. The company has a market cap of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm posted $1.01 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at $11,903,561.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total transaction of $4,149,750.00. Following the transaction, the chief executive officer now directly owns 12,782,327 shares of the company’s stock, valued at $3,536,230,764.55. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at $11,903,561.56. The disclosure for this sale can be found here. Insiders sold a total of 620,793 shares of company stock worth $182,177,918 over the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRM shares. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Mizuho restated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Oppenheimer raised their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Wells Fargo & Company raised 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Nine research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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.