Charter Oak Capital Management LLC Has $2.29 Million Stake in Salesforce, Inc. (NYSE:CRM)

Charter Oak Capital Management LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 16.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,851 shares of the CRM provider’s stock after selling 1,317 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Salesforce were worth $2,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the second quarter valued at approximately $33,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC boosted its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce in the 3rd quarter valued at $53,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Up 4.0 %

CRM stock opened at $347.26 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 stock has a market capitalization of $332.33 billion, a price-to-earnings ratio of 57.12, a PEG ratio of 3.01 and a beta of 1.30. The business’s fifty day moving average price is $336.73 and its two-hundred day moving average price is $294.60.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Salesforce’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Insiders Place Their Bets

In related news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,109,169 shares of company stock worth $383,432,020 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CRM shares. Canaccord Genuity Group lifted their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets increased their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Company 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.