Salesforce, Inc. (NYSE:CRM) Shares Bought by Madrona Financial Services LLC

Madrona Financial Services LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 995 shares of the CRM provider’s stock after acquiring an additional 71 shares during the period. Madrona Financial Services LLC’s holdings in Salesforce were worth $333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whalen Wealth Management Inc. purchased a new stake in shares of Salesforce during the fourth quarter worth about $453,000. Bill Few Associates Inc. purchased a new stake in Salesforce in the fourth quarter valued at approximately $209,000. MinichMacGregor Wealth Management LLC acquired a new position in Salesforce during the fourth quarter valued at approximately $240,000. Raleigh Capital Management Inc. lifted its position in Salesforce by 27.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,367 shares of the CRM provider’s stock valued at $791,000 after buying an additional 509 shares in the last quarter. Finally, D.B. Root & Company LLC acquired a new position in shares of Salesforce during the fourth quarter worth $218,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRM. Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday, October 17th. DA Davidson upped their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Citigroup raised their target price on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Loop Capital raised their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,171,198 shares of company stock valued at $401,945,558 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $330.32 on Thursday. The business’s 50-day moving average price is $336.50 and its 200-day moving average price is $293.20. 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 $316.12 billion, a price-to-earnings ratio of 54.44, a PEG ratio of 2.95 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly 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 for the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed 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 of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 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.