1,494 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Mainsail Financial Group LLC

Mainsail Financial Group LLC acquired a new stake in Salesforce, Inc. (NYSE:CRM) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,494 shares of the CRM provider’s stock, valued at approximately $499,000.

Other large investors have also modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter worth approximately $27,000. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. Friedenthal Financial acquired a new stake in Salesforce in the 4th quarter valued at $55,000. Finally, Rosenberg Matthew Hamilton increased its holdings in Salesforce by 88.3% in the 4th quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock worth $59,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Scotiabank raised their price target on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Loop Capital boosted their price objective on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group boosted their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given 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 $377.63.

Insider Buying and Selling

In other news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.5 %

Shares of NYSE CRM opened at $325.81 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $339.05 and its two-hundred day moving average is $299.87. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the firm posted $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

About Salesforce

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.