RFG Holdings Inc. Increases Holdings in Salesforce, Inc. (NYSE:CRM)

RFG Holdings Inc. increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,592 shares of the CRM provider’s stock after buying an additional 254 shares during the period. RFG Holdings Inc.’s holdings in Salesforce were worth $868,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce in the 3rd quarter valued at about $27,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC grew its position in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. FSA Wealth Management LLC bought a new position in Salesforce in the third quarter valued at $53,000. Finally, Friedenthal Financial purchased a new stake in Salesforce during the fourth quarter valued at about $55,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 708 shares of Salesforce stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the transaction, the chief operating officer now directly owns 1,239 shares in the company, valued at $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,104,699 shares of company stock worth $382,108,847. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE:CRM opened at $344.38 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $329.57 billion, a PE ratio of 56.52, a PEG ratio of 3.09 and a beta of 1.31. The stock’s fifty day moving average is $338.67 and its 200 day moving average is $297.99.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the company earned $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CRM shares. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Jefferies Financial Group upped their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Macquarie restated a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Oppenheimer reiterated an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.