Bogart Wealth LLC Increases Stock Position in Salesforce, Inc. (NYSE:CRM)

Bogart Wealth LLC grew its stake in Salesforce, Inc. (NYSE:CRM) by 3.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 41,105 shares of the CRM provider’s stock after acquiring an additional 1,364 shares during the period. Bogart Wealth LLC’s holdings in Salesforce were worth $10,816,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Bear Mountain Capital Inc. purchased a new stake in Salesforce during the fourth quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the 4th quarter valued at approximately $31,000. BKM Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter worth $34,000. Finally, Pacifica Partners Inc. increased its position 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 acquiring an additional 100 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on CRM shares. Citigroup boosted their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Robert W. Baird lifted their price target on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wolfe Research reissued an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Finally, TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Price Performance

CRM traded down $6.05 during trading on Thursday, reaching $272.92. 1,395,283 shares of the stock were exchanged, compared to its average volume of 5,454,884. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a market capitalization of $264.19 billion, a price-to-earnings ratio of 65.35, a P/E/G ratio of 2.10 and a beta of 1.30. The business’s 50 day moving average price is $293.29 and its two-hundred day moving average price is $267.99. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 EPS. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total value of $1,164,324.00. Following the sale, the insider now directly owns 115,762 shares in the company, valued at $32,091,541.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $277.22, for a total transaction of $1,164,324.00. Following the transaction, the insider now directly owns 115,762 shares in the company, valued at $32,091,541.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $275.45, for a total transaction of $4,131,750.00. Following the transaction, the chief executive officer now owns 12,662,327 shares in the company, valued at $3,487,837,972.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 624,193 shares of company stock valued at $182,212,898. 3.70% of the stock is owned by corporate 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.