Corps Capital Advisors LLC Buys Shares of 1,654 Salesforce, Inc. (NYSE:CRM)

Corps Capital Advisors LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,654 shares of the CRM provider’s stock, valued at approximately $553,000.

Other large investors also recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its holdings in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc purchased a new position in shares of Salesforce during the 4th quarter worth $31,000. Collier Financial purchased a new position in shares of Salesforce during the 4th quarter worth $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter worth $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.5 %

NYSE:CRM opened at $324.19 on Thursday. The stock’s 50 day moving average price is $335.02 and its 200 day moving average price is $304.66. The company has a market capitalization of $310.25 billion, a PE ratio of 53.32, a P/E/G ratio of 2.62 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. On average, research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Loop Capital lowered their price target on Salesforce from $360.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday. Wells Fargo & Company increased their price target on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Canaccord Genuity Group increased their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $376.84.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,117,641 shares of company stock worth $386,408,308. 3.20% of the stock is currently owned by insiders.

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.