Stonegate Investment Group LLC Has $1.89 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Stonegate Investment Group LLC boosted its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 3.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,176 shares of the CRM provider’s stock after buying an additional 260 shares during the period. Stonegate Investment Group LLC’s holdings in Salesforce were worth $1,888,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Union Savings Bank acquired a new stake in Salesforce during the 2nd quarter worth approximately $27,000. BKM Wealth Management LLC bought a new position in Salesforce during the 4th quarter worth $34,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after buying an additional 125 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc acquired a new position in shares of Salesforce in the fourth quarter valued at about $37,000. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

CRM has been the subject of several analyst reports. JMP Securities lifted their price objective on shares of Salesforce from $293.00 to $342.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 29th. Royal Bank of Canada lifted their price target on shares of Salesforce from $285.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $290.00 to $350.00 in a research note on Thursday, December 21st. BMO Capital Markets upped their target price on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research report on Thursday, March 7th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.32.

Get Our Latest Analysis on Salesforce

Salesforce Stock Up 0.6 %

Shares of NYSE:CRM opened at $304.02 on Wednesday. The business has a fifty day simple moving average of $296.10 and a 200 day simple moving average of $254.65. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $294.90 billion, a P/E ratio of 72.39, a P/E/G ratio of 2.32 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71.

Salesforce (NYSE:CRMGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the business earned $1.01 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.53%. Salesforce’s dividend payout ratio (DPR) is currently 9.52%.

Insider Activity

In other Salesforce news, COO Brian Millham sold 293,965 shares of the business’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 293,965 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. Insiders sold 913,175 shares of company stock worth $261,391,996 in the last quarter. 3.70% of the stock is owned by corporate insiders.

About Salesforce

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRMFree Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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