Kestra Private Wealth Services LLC Acquires 603 Shares of Salesforce, Inc. (NYSE:CRM)

Kestra Private Wealth Services LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,514 shares of the CRM provider’s stock after buying an additional 603 shares during the period. Kestra Private Wealth Services LLC’s holdings in Salesforce were worth $22,906,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new position in shares of Salesforce in the third quarter valued at approximately $27,000. Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% in 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 increased its position in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the period. FSA Wealth Management LLC acquired a new stake in shares of Salesforce during the third quarter worth $53,000. Finally, Friedenthal Financial bought a new stake in shares of Salesforce in the fourth quarter valued at about $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 652 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares in the company, valued at approximately $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $15,705,195. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $325.81 on Friday. 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 company has a 50 day simple moving average of $338.97 and a two-hundred day simple moving average of $300.36. The company has a market capitalization of $311.80 billion, a PE ratio of 53.59, a P/E/G ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its earnings results 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). The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CRM shares. Morgan Stanley boosted their price objective on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, BMO Capital Markets upped their price target on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.