Callan Capital LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Callan Capital LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 15.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,582 shares of the CRM provider’s stock after buying an additional 209 shares during the period. Callan Capital LLC’s holdings in Salesforce were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Marks Group Wealth Management Inc raised its stake in Salesforce by 0.7% during the fourth quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock worth $9,268,000 after purchasing an additional 257 shares during the period. Walkner Condon Financial Advisors LLC raised 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 acquiring an additional 74 shares during the period. Roman Butler Fullerton & Co. raised its stake in shares of Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after acquiring an additional 105 shares during the period. Pure Financial Advisors LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $214,000. Finally, Riversedge Advisors LLC raised its stake in shares of Salesforce by 21.7% in the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after acquiring an additional 420 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM traded up $1.07 on Friday, reaching $274.21. 3,753,890 shares of the company were exchanged, compared to its average volume of 5,661,873. The firm has a market cap of $265.98 billion, a price-to-earnings ratio of 65.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.76 and a 1-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. The company has a 50-day moving average of $295.97 and a 200-day moving average of $263.90.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. Equities analysts forecast 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 was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Bank of America upped their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Wells Fargo & Company upped their target price on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. UBS Group upped their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Monday, April 15th. Nine investment 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the transaction, the chief executive officer now directly owns 13,656,166 shares of the company’s stock, valued at $3,892,690,118.30. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the transaction, the chief executive officer now directly owns 13,656,166 shares of the company’s stock, valued at $3,892,690,118.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the transaction, the insider now directly owns 60,416 shares in the company, valued at $17,230,643.20. The disclosure for this sale can be found here. Insiders have sold a total of 620,793 shares of company stock valued at $182,177,918 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

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.