FFT Wealth Management LLC Has $675,000 Holdings in Salesforce, Inc. (NYSE:CRM)

FFT Wealth Management LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 7.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,018 shares of the CRM provider’s stock after acquiring an additional 143 shares during the quarter. FFT Wealth Management LLC’s holdings in Salesforce were worth $675,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Delta Financial Advisors LLC grew its holdings in shares of Salesforce by 52.6% during the fourth quarter. Delta Financial Advisors LLC now owns 5,906 shares of the CRM provider’s stock valued at $1,974,000 after buying an additional 2,035 shares in the last quarter. Longbow Finance SA boosted its position in Salesforce by 5.0% during the 4th quarter. Longbow Finance SA now owns 22,986 shares of the CRM provider’s stock worth $7,685,000 after acquiring an additional 1,089 shares during the period. Illinois Municipal Retirement Fund grew its stake in Salesforce by 2.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 51,286 shares of the CRM provider’s stock valued at $17,146,000 after acquiring an additional 1,354 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Salesforce by 21.6% in the 4th quarter. Los Angeles Capital Management LLC now owns 677,841 shares of the CRM provider’s stock valued at $226,623,000 after purchasing an additional 120,428 shares during the period. Finally, EdgeRock Capital LLC lifted its position in shares of Salesforce by 16.5% in the fourth quarter. EdgeRock Capital LLC now owns 1,102 shares of the CRM provider’s stock worth $368,000 after purchasing an additional 156 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research note on Friday, December 13th. Robert W. Baird upped their price target on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Barclays lifted their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research note on Thursday, February 6th. Finally, Northland Securities reaffirmed an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $374.47.

Salesforce Trading Down 0.7 %

Shares of CRM opened at $306.02 on Wednesday. The stock’s 50-day moving average price is $331.46 and its 200 day moving average price is $306.97. 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 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $292.86 billion, a price-to-earnings ratio of 50.33, a P/E/G ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Salesforce, Inc. will post 7.46 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. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock valued at $381,283,706 over the last quarter. 3.20% of the stock is owned by company insiders.

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.