Flagship Harbor Advisors LLC Purchases 807 Shares of Salesforce, Inc. (NYSE:CRM)

Flagship Harbor Advisors LLC grew its position in Salesforce, Inc. (NYSE:CRM) by 8.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,362 shares of the CRM provider’s stock after buying an additional 807 shares during the period. Flagship Harbor Advisors LLC’s holdings in Salesforce were worth $3,464,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Veritas Asset Management LLP acquired a new stake in Salesforce in the third quarter valued at approximately $733,805,000. KBC Group NV boosted its position in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares in the last quarter. International Assets Investment Management LLC grew its stake in Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after buying an additional 998,628 shares during the last quarter. State Street Corp increased its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Salesforce by 95.7% in the third quarter. Van ECK Associates Corp now owns 1,624,520 shares of the CRM provider’s stock valued at $462,063,000 after buying an additional 794,506 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,173,891 shares of company stock valued at $402,840,388 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Loop Capital increased their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC increased their price target on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Down 0.4 %

Shares of NYSE CRM opened at $333.47 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average of $336.73 and a 200 day moving average of $294.01. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market cap of $319.13 billion, a PE ratio of 54.85, a P/E/G ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

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.