1858 Wealth Management LLC Buys 41 Shares of Salesforce, Inc. (NYSE:CRM)

1858 Wealth Management LLC increased its stake in Salesforce, Inc. (NYSE:CRM) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 958 shares of the CRM provider’s stock after purchasing an additional 41 shares during the period. 1858 Wealth Management LLC’s holdings in Salesforce were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at approximately $27,000. Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its holdings in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Friedenthal Financial bought a new position in Salesforce in the fourth quarter valued at $55,000. Finally, Rosenberg Matthew Hamilton increased its stake in Salesforce by 88.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock valued at $59,000 after buying an additional 83 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup increased their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Scotiabank increased their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and boosted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Trading Up 1.4 %

CRM opened at $344.07 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company’s 50 day moving average price is $338.67 and its two-hundred day moving average price is $298.64. The firm has a market capitalization of $329.28 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. As a group, research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s payout ratio is 26.32%.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 1,785 shares of the firm’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 completion of the sale, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. This trade represents a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock worth $384,366,700 over the last ninety days. 3.20% of the stock is owned by insiders.

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.