8,556 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,556 shares of the CRM provider’s stock, valued at approximately $2,861,000. Salesforce comprises about 0.8% of Lecap Asset Management Ltd.’s investment portfolio, making the stock its 27th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. RBA Wealth Management LLC grew its stake in shares of Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after purchasing an additional 574 shares during the period. Hoxton Planning & Management LLC bought a new position in Salesforce during the third quarter worth about $222,000. First PREMIER Bank grew its position in shares of Salesforce by 634.9% during the 3rd quarter. First PREMIER Bank now owns 463 shares of the CRM provider’s stock worth $127,000 after buying an additional 400 shares during the period. CWM LLC increased its stake in Salesforce by 6.6% in the third quarter. CWM LLC now owns 77,140 shares of the CRM provider’s stock valued at $21,114,000 after purchasing an additional 4,744 shares in the last quarter. Finally, Marcum Wealth LLC raised its stake in Salesforce by 3.8% during the 3rd quarter. Marcum Wealth LLC now owns 3,129 shares of the CRM provider’s stock worth $856,000 after buying an additional 114 shares during the period. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CRM shares. JPMorgan Chase & Co. lifted their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird upped their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Thursday. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research note on Monday, January 6th. Finally, Morgan Stanley lifted their price target on Salesforce from $330.00 to $405.00 and gave the company an “overweight” 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 5.0 %

CRM opened at $330.52 on Friday. 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 $339.04 and its two-hundred day moving average price is $299.65. The firm has a market capitalization of $316.31 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $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 announced 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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

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.