Barlow Wealth Partners Inc. Takes Position in Salesforce, Inc. (NYSE:CRM)

Barlow Wealth Partners Inc. bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,458 shares of the CRM provider’s stock, valued at approximately $1,432,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its holdings in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the period. Finally, FSA Wealth Management LLC purchased a new position in Salesforce during the third quarter worth approximately $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. BMO Capital Markets boosted their price objective on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Northland Securities reiterated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. One investment 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,172,167 shares of company stock valued at $402,223,235. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $326.85 on Wednesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $312.79 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 2.93 and a beta of 1.30. The stock’s 50-day moving average is $336.97 and its two-hundred day moving average is $292.47.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the business posted $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced 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 was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. 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.