Grandview Asset Management LLC Has $2.23 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Grandview Asset Management LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,682 shares of the CRM provider’s stock after purchasing an additional 498 shares during the period. Salesforce accounts for about 0.8% of Grandview Asset Management LLC’s investment portfolio, making the stock its 28th biggest holding. Grandview Asset Management LLC’s holdings in Salesforce were worth $2,234,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $1,215,000. Prime Capital Investment Advisors LLC grew its position in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares during the period. Aljian Capital Management LLC grew its holdings in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the period. AIA Group Ltd increased its holdings in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on CRM shares. Citigroup increased their price target on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. DA Davidson boosted their price target on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. BMO Capital Markets increased their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus lifted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Trading Up 0.5 %

Shares of CRM stock opened at $319.39 on Tuesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $305.66 billion, a price-to-earnings ratio of 52.53, a PEG ratio of 3.21 and a beta of 1.30. The stock has a 50-day moving average of $336.25 and a 200-day moving average of $290.19.

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

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insiders Place Their Bets

In other Salesforce 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 value of $1,213,044.00. Following the completion of the sale, the insider now directly owns 118,514 shares in the company, valued at approximately $34,229,213.48. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following 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 ninety days, insiders sold 1,177,617 shares of company stock worth $403,542,975. Company insiders own 3.20% of the company’s stock.

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.