Callan Capital LLC Has $1.17 Million Stake in Salesforce, Inc. (NYSE:CRM)

Callan Capital LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 26.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,508 shares of the CRM provider’s stock after buying an additional 738 shares during the quarter. Callan Capital LLC’s holdings in Salesforce were worth $1,173,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Prentice Wealth Management LLC grew its position in shares of Salesforce by 3.2% in the fourth quarter. Prentice Wealth Management LLC now owns 2,585 shares of the CRM provider’s stock valued at $864,000 after purchasing an additional 79 shares during the last quarter. Variant Private Wealth LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $371,000. Leuthold Group LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $698,000. Peregrine Asset Advisers Inc. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $204,000. Finally, Blackston Financial Advisory Group LLC grew its position in shares of Salesforce by 13.4% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 1,446 shares of the CRM provider’s stock valued at $484,000 after purchasing an additional 171 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the topic of several research analyst reports. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday, January 6th. Morgan Stanley raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $375.53.

Insider Activity at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at $15,342,415. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,102,833 shares of company stock valued at $381,389,136. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 2.8 %

Shares of NYSE CRM opened at $309.54 on Friday. The company’s fifty day moving average is $333.34 and its 200-day moving average is $305.25. The stock has a market cap of $296.23 billion, a price-to-earnings ratio of 50.91, a P/E/G ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. 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 (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. Equities research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce’s dividend payout ratio is currently 26.32%.

Salesforce 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.