Envestnet Portfolio Solutions Inc. Has $12.07 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Envestnet Portfolio Solutions Inc. increased its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,878 shares of the CRM provider’s stock after acquiring an additional 2,222 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Salesforce were worth $12,072,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the 4th quarter valued at $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce during the 4th quarter worth approximately $31,000. Pacifica Partners Inc. grew its holdings in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.1 %

Shares of CRM stock traded up $0.39 during trading hours on Monday, reaching $277.06. The company’s stock had a trading volume of 1,877,393 shares, compared to its average volume of 5,425,216. The stock has a market capitalization of $268.19 billion, a P/E ratio of 65.87, a P/E/G ratio of 2.13 and a beta of 1.30. The firm’s fifty day simple moving average is $291.39 and its 200 day simple moving average is $269.09. Salesforce, Inc. has a one year low of $193.68 and a one year 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:CRMGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CRM shares. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research report on Tuesday, April 16th. Citigroup lifted their price target on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Wedbush increased their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, Oppenheimer upped their price target on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $310.61.

View Our Latest Analysis on CRM

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $287.78, for a total value of $4,316,700.00. Following the sale, the chief executive officer now directly owns 13,476,166 shares in the company, valued at $3,878,171,051.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $270.93, for a total transaction of $1,137,906.00. Following the completion of the transaction, the insider now owns 115,762 shares in the company, valued at approximately $31,363,398.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $287.78, for a total value of $4,316,700.00. Following the sale, the chief executive officer now owns 13,476,166 shares of the company’s stock, valued at $3,878,171,051.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 599,193 shares of company stock worth $174,787,298. Insiders own 3.70% of the company’s stock.

Salesforce Company Profile

(Free Report)

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.

Further Reading

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:CRMFree Report).

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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.