Salesforce, Inc. (NYSE:CRM) Shares Bought by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC increased its position in Salesforce, Inc. (NYSE:CRM) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,631 shares of the CRM provider’s stock after buying an additional 234 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Salesforce were worth $881,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CRM. GM Advisory Group LLC acquired a new position in shares of Salesforce in the 2nd quarter worth approximately $227,000. Bridges Investment Management Inc. grew its position in Salesforce by 263.7% in the second quarter. Bridges Investment Management Inc. now owns 4,714 shares of the CRM provider’s stock worth $1,212,000 after buying an additional 3,418 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Salesforce by 14.5% in the second quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock valued at $24,734,000 after buying an additional 12,193 shares in the last quarter. Garden State Investment Advisory Services LLC lifted its position in shares of Salesforce by 9.2% during the 2nd quarter. Garden State Investment Advisory Services LLC now owns 2,557 shares of the CRM provider’s stock valued at $658,000 after acquiring an additional 216 shares during the last quarter. Finally, Columbus Hill Capital Management L.P. boosted its stake in shares of Salesforce by 87.6% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 73,759 shares of the CRM provider’s stock worth $18,963,000 after acquiring an additional 34,435 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares in the company, valued at $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,183,838 shares of company stock worth $405,595,158 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.5 %

CRM stock opened at $324.77 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. The company has a 50-day moving average of $337.31 and a two-hundred day moving average of $291.56. The stock has a market capitalization of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the business earned $1.62 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current 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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CRM. DA Davidson upped their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Canaccord Genuity Group upped their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wedbush reissued an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.