Salesforce, Inc. (NYSE:CRM) Shares Purchased by Bison Wealth LLC

Bison Wealth LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,931 shares of the CRM provider’s stock after purchasing an additional 71 shares during the quarter. Bison Wealth LLC’s holdings in Salesforce were worth $508,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRM. Norges Bank acquired a new stake in Salesforce during the 4th quarter valued at approximately $1,420,381,000. Moneta Group Investment Advisors LLC grew its stake in Salesforce by 125,717.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after purchasing an additional 10,252,257 shares in the last quarter. Cerity Partners LLC grew its stake in Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after purchasing an additional 3,226,512 shares in the last quarter. Starboard Value LP acquired a new stake in Salesforce during the 4th quarter valued at approximately $401,215,000. Finally, Barclays PLC lifted its holdings in Salesforce by 99.7% during the 2nd quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider’s stock worth $675,370,000 after buying an additional 1,595,733 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, COO Brian Millham sold 293,965 shares of Salesforce 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $295.74, for a total value of $4,436,100.00. Following the completion of the sale, the chief executive officer now owns 12,928,721 shares of the company’s stock, valued at $3,823,539,948.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 293,965 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $280.00, for a total value of $82,310,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 897,375 shares of company stock valued at $260,206,096. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Oppenheimer increased their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Finally, Wolfe Research reissued an “outperform” rating and issued a $365.00 price target on shares of Salesforce in a report on Tuesday. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.87.

Salesforce Stock Performance

Shares of Salesforce stock opened at $277.41 on Wednesday. The stock has a market cap of $269.09 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 2.26 and a beta of 1.28. The business has a fifty day simple moving average of $298.35 and a 200-day simple moving average of $260.79. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company 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 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is 9.52%.

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.