Cumberland Partners Ltd Has $2.92 Million Position in Salesforce, Inc. (NYSE:CRM)

Cumberland Partners Ltd increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,100 shares of the CRM provider’s stock after purchasing an additional 1,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Salesforce were worth $2,915,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. 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 position in Salesforce in the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter worth $34,000. Finally, AlphaMark Advisors LLC grew its stake in shares of Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Oppenheimer lifted their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 target price (up from $325.00) on shares of Salesforce in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, BMO Capital Markets increased their price target on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Nine investment 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at $4,200,205,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at approximately $11,903,561.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the sale, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 611,379 shares of company stock valued at $179,698,420. Company insiders own 3.70% of the company’s stock.

Salesforce Price Performance

NYSE:CRM traded up $2.82 during trading hours on Tuesday, hitting $276.63. The stock had a trading volume of 6,283,041 shares, compared to its average volume of 5,718,907. The company has a 50 day simple moving average of $296.91 and a two-hundred day simple moving average of $263.28. The firm has a market capitalization of $268.33 billion, a price-to-earnings ratio of 65.86, a P/E/G ratio of 2.08 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 net margin of 11.87% and a return on equity of 10.42%. The firm’s 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 EPS. Research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

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.