Goldstone Financial Group LLC Invests $253,000 in Salesforce, Inc. (NYSE:CRM)

Goldstone Financial Group LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 757 shares of the CRM provider’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nabity Jensen Investment Management Inc acquired a new position in shares of Salesforce during the third quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC raised its position in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC lifted its holdings in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares in the last quarter. AIA Group Ltd boosted its position in Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock worth $405,595,158 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CRM. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their price target on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Performance

Shares of CRM opened at $324.77 on Friday. The stock has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The firm has a fifty day simple moving average of $337.25 and a 200 day simple moving average of $291.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted 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 business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.