Meridian Financial Partners LLC Purchases 82 Shares of Salesforce, Inc. (NYSE:CRM)
Meridian Financial Partners LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,035 shares of the CRM provider’s stock after acquiring an additional 82 shares during the quarter. Salesforce makes up about 1.1% of Meridian Financial Partners LLC’s portfolio, making the stock its 26th biggest position. Meridian Financial Partners LLC’s holdings in Salesforce were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Osterweis Capital Management Inc. boosted its position in shares of Salesforce by 463.1% in the 2nd quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider’s stock worth $694,000 after purchasing an additional 2,700 shares in the last quarter. Pointe Capital Management LLC increased its stake in shares of Salesforce by 370.0% in the 2nd quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock valued at $328,000 after purchasing an additional 1,221 shares in the last quarter. Walkner Condon Financial Advisors LLC increased its stake in shares of Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after purchasing an additional 74 shares in the last quarter. Procyon Advisors LLC increased its stake in shares of Salesforce by 72.3% in the 3rd quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock valued at $5,978,000 after purchasing an additional 12,371 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Salesforce in the 2nd quarter valued at about $341,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently issued reports on CRM. Robert W. Baird lifted their price objective on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Oppenheimer raised their target price on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Citigroup raised their target price on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research report on Thursday, March 7th. Finally, Wolfe Research raised Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target for the company in a report on Monday, December 18th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $304.32.
Get Our Latest Research Report on Salesforce
Insiders Place Their Bets
In other news, CFO Amy E. Weaver sold 2,536 shares of Salesforce stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $260.54, for a total transaction of $660,729.44. Following the sale, the chief financial officer now owns 37,979 shares in the company, valued at $9,895,048.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Amy E. Weaver sold 2,536 shares of Salesforce stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $260.54, for a total transaction of $660,729.44. Following the sale, the chief financial officer now owns 37,979 shares in the company, valued at $9,895,048.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $301.45, for a total value of $4,521,750.00. Following the completion of the transaction, the chief executive officer now owns 13,041,166 shares in the company, valued at approximately $3,931,259,490.70. The disclosure for this sale can be found here. Insiders sold 901,258 shares of company stock valued at $256,569,563 in the last ninety days. Insiders own 3.70% of the company’s stock.
Salesforce Trading Down 0.1 %
NYSE:CRM opened at $301.18 on Friday. The firm has a market cap of $292.14 billion, a PE ratio of 71.71, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. The stock has a fifty day moving average price of $295.12 and a 200 day moving average price of $252.97. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is 9.52%.
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.
Featured Stories
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce, Inc. (NYSE:CRM – Free Report).
Receive News & Ratings for Salesforce Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Salesforce and related companies with MarketBeat.com’s FREE daily email newsletter.
