Generate Investment Management Ltd Acquires 72 Shares of Salesforce, Inc. (NYSE:CRM)

Generate Investment Management Ltd raised its stake in Salesforce, Inc. (NYSE:CRM) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,816 shares of the CRM provider’s stock after purchasing an additional 72 shares during the period. Salesforce makes up approximately 1.7% of Generate Investment Management Ltd’s holdings, making the stock its 18th biggest position. Generate Investment Management Ltd’s holdings in Salesforce were worth $24,345,000 as of its most recent SEC filing.

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

Salesforce Stock Down 5.0 %

Shares of NYSE:CRM opened at $330.52 on Friday. The business’s 50-day moving average is $339.05 and its 200-day moving average is $299.87. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market capitalization of $316.31 billion, a price-to-earnings ratio of 54.36, a P/E/G ratio of 3.09 and a beta of 1.31. 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 (NYSE:CRM) last posted its quarterly earnings results 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 company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CRM shares. Bank of America boosted their price objective on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank upped their price target on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Morgan Stanley boosted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last ninety days. 3.20% of the stock is currently owned by insiders.

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.