Raleigh Capital Management Inc. Boosts Stock Position in Salesforce, Inc. (NYSE:CRM)

Raleigh Capital Management Inc. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 27.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,367 shares of the CRM provider’s stock after purchasing an additional 509 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Salesforce were worth $791,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Gabelli Funds LLC raised its holdings in shares of Salesforce by 11.9% in the 2nd quarter. Gabelli Funds LLC now owns 2,405 shares of the CRM provider’s stock worth $618,000 after purchasing an additional 255 shares during the period. Sfmg LLC raised its stake in shares of Salesforce by 24.9% in the second quarter. Sfmg LLC now owns 23,264 shares of the CRM provider’s stock valued at $5,981,000 after buying an additional 4,635 shares during the period. Insigneo Advisory Services LLC lifted its position in shares of Salesforce by 403.4% during the 2nd quarter. Insigneo Advisory Services LLC now owns 11,836 shares of the CRM provider’s stock valued at $2,829,000 after buying an additional 9,485 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of Salesforce by 16.1% during the 2nd quarter. Toronto Dominion Bank now owns 736,459 shares of the CRM provider’s stock worth $189,344,000 after acquiring an additional 102,358 shares during the period. Finally, Unisphere Establishment increased its holdings in Salesforce by 13.9% in the 2nd quarter. Unisphere Establishment now owns 559,000 shares of the CRM provider’s stock worth $143,719,000 after acquiring an additional 68,250 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the sale, the insider now directly owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,171,198 shares of company stock valued at $401,945,558. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRM shares. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. DA Davidson raised their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Morgan Stanley boosted their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer restated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Citigroup upped their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Up 1.8 %

NYSE CRM opened at $332.67 on Thursday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $318.37 billion, a PE ratio of 54.72, a PEG ratio of 2.95 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day moving average is $336.50 and its 200 day moving average is $293.20.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. Sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio is 26.32%.

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.