Salesforce, Inc. (NYSE:CRM) Shares Bought by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,610 shares of the CRM provider’s stock after buying an additional 3,950 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Salesforce were worth $11,237,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter worth approximately $27,000. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC grew its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. FSA Wealth Management LLC acquired a new stake in Salesforce during the third quarter valued at $53,000. Finally, Friedenthal Financial purchased a new position in Salesforce in the fourth quarter valued at $55,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CRM shares. Needham & Company LLC raised their target price on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Canaccord Genuity Group raised their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Wells Fargo & Company increased their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Up 1.4 %

CRM stock opened at $344.07 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current 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 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. The company’s 50 day moving average price is $338.67 and its 200 day moving average price is $298.64.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 over the last three months. Insiders own 3.20% of the company’s stock.

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.