SVB Wealth LLC Buys 2,372 Shares of Salesforce, Inc. (NYSE:CRM)

SVB Wealth LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 12.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,869 shares of the CRM provider’s stock after purchasing an additional 2,372 shares during the period. SVB Wealth LLC’s holdings in Salesforce were worth $5,755,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in Salesforce by 0.9% during the first quarter. State Street Corp now owns 45,509,345 shares of the CRM provider’s stock worth $9,091,832,000 after purchasing an additional 391,648 shares during the period. Morgan Stanley lifted its stake in Salesforce by 0.8% during the fourth quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock worth $2,519,719,000 after purchasing an additional 149,012 shares during the period. Northern Trust Corp raised its stake in shares of Salesforce by 1.1% in the third quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after acquiring an additional 121,436 shares during the last quarter. Norges Bank bought a new position in shares of Salesforce in the fourth quarter valued at approximately $1,420,381,000. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of Salesforce by 125,717.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after acquiring an additional 10,252,257 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $274.01, for a total value of $4,110,150.00. Following the transaction, the chief executive officer now owns 13,761,166 shares in the company, valued at approximately $3,770,697,095.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $274.01, for a total value of $4,110,150.00. Following the transaction, the chief executive officer now owns 13,761,166 shares in the company, valued at approximately $3,770,697,095.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 897,375 shares of company stock valued at $260,206,096. 3.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRM. Needham & Company LLC restated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 target price (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Evercore ISI lifted their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wedbush lifted their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Argus lifted their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Trading Up 1.7 %

Shares of NYSE:CRM opened at $277.41 on Wednesday. The company’s 50-day moving average price is $298.35 and its two-hundred day moving average price is $260.79. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The stock has a market capitalization of $269.09 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 2.10 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. 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 payout ratio is 9.52%.

Salesforce 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.